Oct 29 Questcor Pharmaceuticals Inc
said it was being investigated in multiple jurisdictions, in
addition to an ongoing probe by the U.S. Attorney's office in
Pennsylvania into its promotional practices, sending its shares
down 10 percent.
The company said in a post-earnings call that the U.S.
Attorney's office for the Southern District of New York and the
Los Angeles office of the Securities and Exchange Commission had
joined the earlier probe.
The drugmaker has been under investigation for more than a
year over its promotional practices for its flagship product,
Acthar gel. The gel is used to treat disorders including
multiple sclerosis and allergies.
Questcor, which on Tuesday reported a 45 percent jump in
third-quarter sales of Acthar, said that it was informed
verbally of the new investigations by the U.S. Attorney's office
The company said such investigations are not uncommon and it
was cooperating with the agencies. Questcor did not divulge
further details in response to questions on the call.
Shares of the drugmaker were at $63.00 after closing at
$69.73 on the Nasdaq.