By RTT News, February 26, 2013, 04:20:00 PM EDT
(RTTNews.com) - Questcor Pharmaceuticals Inc. ( QCOR ) Tuesday reported fourth-quarter net income of $61.9 million or $1.03 per share, up from $31.6 million or $0.48 per share last year.
Adjusted earnings for the three-month period rose to $65.7 million or $1.09 per share from $31.6 million or $0.47 per share last year.
Net sales for the quarter surged to $160.5 million from $75.5 million last year.
Questcor said sales grew due to expanded prescribing of H.P. Acthar Gel by nephrologists in the treatment of nephrotic syndrome, as well as continued prescribing by neurologists in the treatment of MS relapses and infantile spasms.
Analysts polled by Thomson Reuters expected earnings of $1.00 per share on revenues of $142.58 million for the quarter. Analysts' estimates typically exclude special items.
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