- Questcor Pharmaceuticals (QCOR) shares fall 4.6% AH after Retrophin (RTRX) fires a shot across Achtar's bow, announcing that it is developing a synthetic ACTH analog candidate called RE-034.
- Retrophin intends to file an Investigational New Drug application and initiate a Phase I trial in 1H 2014. It then plans to initiate Phase III trials of RE-034 for the treatment of infantile spasms and nephrotic syndrome, both of which are use cases of Achtar.
- CEO Martin Shkreli: "our synthetic ACTH can potentially bring relief to the high cost burden associated with the currently available animal-derived formulation in the U.S."
- Short seller Citron Research has targeted Questcor in the past on issues of pricing and substitution, stating that Synacthen (the rights for which Questcor recently acquired) is a synthetic equivalent of Achtar that has been prescribed in Europe for over a decade "at 1/1000th the price."
Questcor -4.6% AH on Retrophin synthetic ACTH development candidate news
Dec 17 2013, 17:20 ET