Questcor plummets after Aetna slashes insurance coverage for most Acthar uses
This article was originally published in Scrip
Executive Summary
Questcor Pharmaceuticals' stock price was cut nearly in half - falling 47.8% from $50.52 per share on 18 September to $26.35 at market close on 19 September - in response to US health insurance company Aetna's decision to drop coverage for all but one of the 19 approved indications for HP Acthar gel (repository corticotropin injection).
You may also be interested in...
Sage’s Dalzanemdor Prospects In Doubt After First Mid-Stage Readout
Dalzanemdor (SAGE-718) showed no difference from placebo in a Phase II Parkinson’s disease study, raising concerns about readouts later this year in Huntington’s and Alzheimer’s diseases.
First Phase III Depression Data For Intra-Cellular’s Caplyta Exceed Expectations
With positive results from the first Phase III trial of lumateperone in major depressive disorder and a second readout expected later this quarter, the company plans a supplemental filing in late 2024.
Finance Watch: Ten IPOs So Far In 2024, But Returns To Date Are Subpar
Public Company Edition: This year’s newly public companies are trading an average of 9.7% below their IPO prices, including the two most recent debuts, Boundless Bio and Contineum. Also, Nkarta, Praxis and Nurix grossed $240m, $200m and $175m, respectively, in follow-on offerings.