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Stock Market & Financial Investment News

News Breaks
June 23, 2014
09:02 EDTQCORQuestcor closes transaction to acquire international rights to Synacthen
Questcor announced that the transaction acquiring rights to Synacthen and Synacthen Depot from Novartis Pharma AG and Novartis AG in certain countries outside the U.S. has now closed. The products are approved outside the U.S. for multiple indications, including certain autoimmune and inflammatory conditions as well as for diagnostic use, but have never been developed or approved for patients in the U.S. Questcor is presently engaged in pre-clinical development for Synacthen in the U.S. Under the terms of the transaction agreements, Questcor will have the right to develop, market, manufacture, distribute, sell and commercialize Synacthen in all countries worldwide except for 13 European countries in which Novartis has previously granted rights to another third party. This process will involve the transfer to Questcor of individual marketing authorizations in more than forty countries outside the U.S. With the first transfer expected to take place mid-2014, Questcor anticipates that the marketing authorizations for Synacthen currently held by Novartis will be transferred to Questcor on or before the end of 2016.
News For QCOR From The Last 14 Days
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July 24, 2014
09:10 EDTQCORQuestcor expects insurance coverage for Acthar to remain favorable, consistent
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09:10 EDTQCORQuestcor reports Q2 H.P. Acthar gel sales up 39% to $188.5M
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09:10 EDTQCORQuestcor reports Q2 adjusted EPS $1.85, consensus $1.74
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July 21, 2014
07:36 EDTQCORMallinckrodt price target raised to $95 from $85 at Jefferies
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July 17, 2014
11:12 EDTQCOROptions with decreasing implied volatility
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July 16, 2014
16:13 EDTQCORMallinckrodt initiated with an Outperform, $100 target at Oppenheimer
Oppenheimer believes Mallinckrodt's (MNK) acquisition of Questcor (QCOR) provides sustainable high-growth revenue potential. It believes the company bought Acthar at an attractive valuation. Opco started shares of Mallinckrodt with an Outperform rating and $100 price target.
10:35 EDTQCOROptions with decreasing implied volatility
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July 14, 2014
15:09 EDTQCORQuestcor rises after S-4 effective, interest from other suitors disclosed
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07:04 EDTQCORMallinckrodt and Questcor update transaction
Mallinckrodt (MNK) and Questcor (QCOR) announced that the registration statement on Form S-4 filed with the SEC by Mallinckrodt on May 16 and amended on July 11 which includes a joint proxy statement of Mallinckrodt and Questcor that also constitutes a prospectus of Mallinckrodt, was declared effective on July 11. The companies have also each scheduled shareholder meetings on August 14 for shareholders of record on July 9 to consider (i) in the case of Mallinckrodt, its proposal to issue its ordinary shares in connection with its proposed acquisition of Questcor and (ii) in the case of Questcor, approval of the merger agreement with Mallinckrodt and related matters. The transaction is currently expected to be completed in August.
July 11, 2014
09:09 EDTQCOROn The Fly: Pre-market Movers
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06:39 EDTQCORQuestcor reports Acthar adverse effects data, NY Times says
The number of patients who reported an adverse effect last year while taking Questcor's (QCOR) Acthar drug amounted to almost 5% of prescriptions dispensed, the company stated in a regulatory filing released yesterday, according to The New York Times. The filing marked the first time that the company has disclosed any difficulties experienced by Acthar patients, the newspaper added. Questcor has agreed to be bought by Mallinckrodt (MNK). Reference Link

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