Questcor retires last $2.1 million in debt

By E. Janene Geiss

Philadelphia, Oct. 17 - Questcor Pharmaceuticals, Inc. announced Monday that it has retired $2.1 million in debt to Defiante Farmaceutica, Lda.

In the last six months, the company has retired all of its debt without shareholder dilution, officials said in a news release.

The company's goal was to eliminate debt in order to focus its efforts on its central nervous system specialty, officials said in the release.

"Questcor is now positioned to concentrate its resources on the central nervous system markets," James L. Fares, president and chief executive officer, said in the release.

Questcor will continue to market and promote H.P. Acthar Gel, an injectable drug used to treat exacerbations of multiple sclerosis, the release said.

The Union City, Calif.-based specialty pharmaceutical company also will continue to evaluate opportunities to acquire currently marketed products and to build a pipeline of commercially attractive development opportunities. Questcor expects to announce updates on this by the end this year, the release said.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.