Bloomberg News 
(9/21, Tirrell) reports, "Questcor Pharmaceuticals Inc. (QCOR), which sank the most in 20 years yesterday after insurer Aetna Inc. (AET) said it would limit coverage of the company's top-selling drug, is in discussions with the insurer and doesn't expect the decision to hurt business, executives told investors." Aetna comprises about five percent of prescriptions for Questcor. Aetna, in a bulletin posted on its website, said that HP Acthar is not "medically necessary" for most of the diseases that it was approved to treat. Aetna claims the drug is only necessary to treat infantile spasms, but Chief Executive Officer Don Bailey said, "You could tell with the various information they put out that they did not have a complete understanding of Acthar." Questcor remains in discussions with Aetna.
(9/21, Tirrell) reports, "Questcor Pharmaceuticals Inc. (QCOR), which sank the most in 20 years yesterday after insurer Aetna Inc. (AET) said it would limit coverage of the company's top-selling drug, is in discussions with the insurer and doesn't expect the decision to hurt business, executives told investors." Aetna comprises about five percent of prescriptions for Questcor. Aetna, in a bulletin posted on its website, said that HP Acthar is not "medically necessary" for most of the diseases that it was approved to treat. Aetna claims the drug is only necessary to treat infantile spasms, but Chief Executive Officer Don Bailey said, "You could tell with the various information they put out that they did not have a complete understanding of Acthar." Questcor remains in discussions with Aetna.
Reuters (9/20, Nathan, Siddiqui) reports that Cynthia Michener, an Aetna spokeswoman, said that there was no evidence that the drug worked better than other existing treatments for the various diseases. The drug has been used to treat disorders such as nephrotic syndrome, multiple sclerosis, and infantile seizures, and Questcor said it will review Aetna's decisions, but doesn't expect the insurer's move to impact its operations.
(9/20, Nathan, Siddiqui) reports that Cynthia Michener, an Aetna spokeswoman, said that there was no evidence that the drug worked better than other existing treatments for the various diseases. The drug has been used to treat disorders such as nephrotic syndrome, multiple sclerosis, and infantile seizures, and Questcor said it will review Aetna's decisions, but doesn't expect the insurer's move to impact its operations.
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