Questcor Pharmaceuticals Inc.
) reported fourth quarter 2012 adjusted earnings per share of
$1.09, up 132% from the year-ago period. Earnings surpassed the
Zacks Consensus Estimate of 93 cents. The earnings beat was
attributable to higher revenues.
Fourth quarter 2012 revenues climbed 113% to $160.5 million.
Strong performance of the H.P. Acthar Gel in the nephrotic
syndrome, multiple sclerosis (MS) relapses and infantile spasms
indications contributed to the massive growth. Revenues surpassed
the Zacks Consensus Estimate of $142 million.
In the fourth quarter of 2012 research and development
(R&D) expenses were $12.1 million, up 111.6%. The increase
was attributable to the company's efforts to develop its
pipeline. In the reported quarter general and administrative
expenses were $11.2 million, up 93.8% and selling and marketing
expenses were $33.1 million, up 94.4%.
Full year 2012 earnings per share were $3.33 compared with
$1.27 per share in 2011. Earnings surpassed the Zacks Consensus
Estimate of $3.02 per share. Revenues in 2012 increased 133% year
over year to $509.3 million. Revenues for 2012 surpassed the
Zacks Consensus Estimate of $491 million.
Acthar, an injectable drug, is the lead product at Questcor.
It is approved by the FDA for as many as 19 indications. The
company shipped 6,330 and 20,741 vials of Acthar during the
fourth quarter and full year 2012, up 88% and 94%, respectively.
Questcor's other product is Doral (insomnia).
Questcor carries a Zacks Rank #3 (Hold). Currently, companies
Lannett Company, Inc.
SIGA Technologies, Inc.
United Therapeutics Corporation
) look more attractive with a Zacks Rank #1 (Strong Buy).
LANNETT INC (LCI): Free Stock Analysis Report
QUESTCOR PHARMA (QCOR): Free Stock Analysis
SIGA TECH INC (SIGA): Free Stock Analysis
UTD THERAPEUTIC (UTHR): Free Stock Analysis
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