Questcor (QCOR -6%) gets hit today after Blue Cross/Blue Shield of Michigan denies coverage of...

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jerry parker Comments (41)
 
actually, that's NOT what it says.
this is nothing new by michigan - it says not to use acthar if the patient can use steroid(duh).
obviously, if patient failed steroid or can't take it, acthar will still be used. the shorts will keep "crying wolf" as they make money by lying.
27 Dec 2012, 12:31 PM Reply Like

chyten Comments (130)
 
Aetna says Acthar is not covered for any condition other than infantile spasms as it has shown no effectiveness for anything else.

While I have no dog in this fight, I would not be inclined to go long QCOR as the future for its one drug, Acthar, seems to be limited to treatment of only one condition, infantile spasms, that does not generate enough sales to keep the stock price at current levels.
27 Dec 2012, 12:51 PM Reply Like

Michael Fuller Comments (256)
 
and you have done how much research into the business model and what Acthar actually is? I'm seriously asking, since you decided to weigh in.
27 Dec 2012, 12:59 PM Reply Like

chyten Comments (130)
 
I read what Aetna stated in its research note.

I assume Aetna did appropriate due diligence before finding Acthar was ineffective in treating anything other than infantile spasms.
27 Dec 2012, 02:37 PM Reply Like

see punjabi Comments (257)
 
Chyten:
Wow, I'm impressed by your statements regarding Qcor. Lately, everybody is acting like a healthcare professional with no background in healthcare profession at all: e.g a lawyer is providing his expertise on drugs with no background at all regarding insurance companies, fda approved indications and especially drugs. Do you even know how this medications works, why it is not covered for steroid responsive conditions. Please, lawyer, go home and go to yahoo or google and do some basic research on steroids, their indications, adverse events and then do some research on Acthar and I hope this will help you learning something about qcor company.
Good luck with your research. I hope it will not be that hard for you with your research!
27 Dec 2012, 05:28 PM Reply Like

Michael Fuller Comments (256)
 
Yep, Jerry is spot on. Still befuddled why Seeking Alpha would propagate such nonsense. A few short attacks ago I communicated with the Market Currents editor and they have been pretty good about postings with caveats like 'as reported by' included.

Now we seem to be back to the shock and awe.

Maybe the editor changed? If so, please send me a private message so we can hash this through. Journalistic integrity requires reporting facts only if you can back up the statement. Otherwise, you report with standard caveats as I already mentioned.
27 Dec 2012, 12:51 PM Reply Like

wadeyr Comments (172)
 
You long the stock? I believe it can go to $50
27 Dec 2012, 01:14 PM Reply Like

ggpique Comments (79)
 
Agree with Jerry,

The Michigan Blue Cross/Blue Shield memo re-states standard operating procedure. Acthar is and should be used only as a last resort when steroids fail.

Meanwhile the shorts dump shares to trigger stop losses until investors realize that they have been scammed again--by the shorts.

In my native land we used to celebrate a version of April fools day on December 27. Ha!
27 Dec 2012, 12:59 PM Reply Like

trriddell Comment (1)
 
Please read the hyperlink "denies coverage". You'll see that the coverage has not changed in any way. Acthar gel was never intended to be used for steroid-responsive patients. It is to be used for patients who do not respond to steroid therapy or cannot tolerate steroid therapy. The form the physician submits allows for use under these conditions.
27 Dec 2012, 01:14 PM Reply Like

GaryLee276 Comments (79)
 
This is the third time shorty pulled this in the last six months. I added last time.
27 Dec 2012, 01:38 PM Reply Like

jpomerance Comments (7)
 
Is this really responsible reporting? While I do not own any of QCOR stock, if there is not a change in the company policy why would this be any news?
27 Dec 2012, 01:59 PM Reply Like

pdinovo Comments (2)
 
It is reasonable to try to use lower cost remedies first and not to use Acthar if they work. However, to not pay for Acthar when it is the only hope of relief is weaseling out of the insurer's obligations. The insurer could be forced to pay for it plus legal costs. The way this announcement is worded it essentially says if steroids work it will not pay for Acthar. The FDA does know what is doing when it approves a drug. The only reason Questcor's sales are growing by leaps and bounds is that more and more physicians are prescribing it, despite the higher cost, and more and more patients are getting relief. It obviously works better than steroids for many indications.
27 Dec 2012, 02:05 PM Reply Like

eliaa123 Comments (2)
 
@chyten: per their q3 conference there's a lot more to the Acthar gel than infantile spasms
http://seekingalpha.co...
27 Dec 2012, 02:05 PM Reply Like

ClinicalPharmacist Comment (1)
 
Well, would a plan deny a patient from getting a medically necessary course of Acthar if a lawyer presented the contraindications listed below (from WebMD site)? i seriously doubt it!

When corticosteroids are used in high doses or for longer periods of time, they can have more serious side effects, including:

Weight gain and swelling in the face.
High blood pressure.
Blood sugar problems and diabetes.
Weakening and thinning of bones (osteoporosis).
Cataracts.
Bleeding in the stomach and intestines.
Lowered resistance to infection.
Death of bone tissue caused by a restricted blood supply to the bones. This is most common in the bones of the shoulders and hips.
Severe agitation, paranoia, and psychosis (if corticosteroids are used in very high doses).
The side effects that may occur with prolonged corticosteroid use can be a problem for people who have frequent MS attacks and need repeated treatment with corticosteroids.
27 Dec 2012, 02:10 PM Reply Like

drdon Comments (64)
 
It sure seems "strange" that just before this "news" was re-engineered to look like Armageddon for Questcor there was a large increase in Put Option trading. What's so sad is that newbies and weak handed small investors will be shut out. The shorts have planned these periodic attacks undoubtedly to cover before the next earnings report. If people who invest would only do their due diligence they wouldn't be in a position to be manipulated. When will folks recognize that Acthar Gel is FDA approved for somewhere around 17 disease indications. It is used in situations where a disease entity is non responsive to steroids. Even Aetna has grandfathered in present users. In addition like many upper tier drugs it is necessary to get pre-approval and Questcor provides the necessary action to obtain pre-approval. Treating chronic auto immune disorders is not the same as treating high blood pressure. Chronic immune disease takes on an entirely different treatment protocol.
27 Dec 2012, 03:07 PM Reply Like

ThatmanBL Comments (2)
 
I love these baseless bear raids because they allow me to pick up trading shares, I've done this during the last 5 bear raids and I'm making a killing. It's very simple people, during a bear raid you pick up trading shares then sell them when QCOR makes a new 3 month high ($31 as of today) then wait for the next 10% raid and buy more shares. QCOR trades at less than 6x next years earnings I mean come on now people this company is doubling every year. Everything and anything is priced into the stock already. The next bear raid the shorts will probably say that aliens have invaded and their sole communication was that Achtar is bad. By the way, I've been a long time fan Mike, keep up the good work for us longs.
28 Dec 2012, 02:39 AM Reply Like

Michael Webb Comments (703)
 
I no longer write articles for this site, but when I did several months ago, I recommended "buy" on Questcor with a target price of $30 by December's end. I also recommended a sell at this time because of the "cloud of potential bad news overhead" or words to that effect.

Questcor will not be a stable investment anytime soon. With the legal inquiry still unresolved and insurance companies still mulling their options, bad news is always just around the corner.

And again, I like Questcor and think H. P. Acthar is an excellent product. I am only commenting on the investment aspect. This news item whether accurate or inaccurate, inspired by the truth or those with ulterior motives is further evidence of my analysis.

MW
28 Dec 2012, 04:17 AM Reply Like