Citron On Questcor: Serious Jeopardy for Synacthen DealVW Staff
On June 11, Questcor Pharmaceuticals Inc (NASDAQ:QCOR) surprised the investment community with news that it had acquired rights to Synacthen for the United States and up to 40 countries from Novartis AG (ADR) (NYSE:NVS). Within weeks the stock had doubled on that news, adding 1.75 billion in market cap. Why?
Simple. Synacthen is a synthetic version of ACTH, the sole labeled active ingredient in Acthar, which is Questcor Pharmaceuticals Inc (NASDAQ:QCOR)’s . . .
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