Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Bloomberg Customers

Questcor Falls After Reporting Government Investigation

Questcor Pharmaceuticals Inc. fell 37 percent after disclosing the company’s marketing practices are being investigated by the U.S. government.

Questcor dropped to $19.08 at 4 p.m. New York time, its lowest closing value since April 2011. The shares of the Anaheim, California-based company have declined 54 percent so far this year.

Questcor plunged the most in 20 years last week after insurer Aetna Inc. said it would limit coverage of Questcor’s top-selling drug, H.P. Acthar, a treatment for multiple sclerosis and infant seizures. The drug accounts for most of Questcor’s sales. Marko Kozul, an analyst at Leerink Swann in San Francisco, downgraded the stock to market perform today.

“Due to a multitude of factors, we believe Acthar may increasingly show up on insurers’ radars and undergo reimbursement reviews,” Kozul wrote in a note to investors.

In today’s filing, Questcor said it intends to cooperate with the investigation and that the company doesn’t plan further comment except for regulatory-compliant disclosures.

The company was also cut to hold at ThinkEquity LLC by James Molloy, an analyst. His 12-month target price is $26 a share.

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.