Questcor Plunges After Aetna Limits Coverage of Drug
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Questcor Pharmaceuticals Inc. fell the most in 20 years after insurer Aetna Inc. said it would limit coverage of the company’s top-selling drug. The drugmaker said it doesn’t expect a “material impact” from the change.
Questcor plunged 48 percent to $26.35 at the close in New York, its biggest one-day drop since November 1992, after word broke of Aetna’s decision on H.P. Acthar, a treatment for multiple sclerosis and infant seizures.