Talked to Patty Hartman, their public affairs person. Nice lady but tight as a clam.
Me: Your office is investigating Questcor. For what?
Her: We do not comment on, confirm, or deny investigations.
Me: Somebody sure as heck confirmed or commented--its all over the media and reported by Questcor.
Her: Not us.
Me: Do you inform the parties you are investigating?
Me: Did you inform Questcor?
Her: We don't comment on investigations.
We went round and round a few more times. I forgot to ask her for an average time span from investigation to settlement--but I will email her and report any response. Guess: 2.5 years.
She did refer me to the web site to view settled cases with other pharmas. Was pretty much a waste of time as reported by Mikey and others. This office has extracted some huge settlements out of big pharma (Cephalon, Lilly) for truly blatant off label selling tactics, and also some smaller settlements ($10-$20M) out of other pharmas. Cynical guess? The settlement is based on the ability of the pharma to pay and QCOR will settle for an amount that stings, but has little material impact on the company. Hard to imagine QCOR would be selling aggressively off label since they are indicated for all kinds of conditions, providing plenty of virgin turf with on label indications.
What they should be investigating is the hedge fund naked shorting attack - but since our government is corrupt through and through, instead they attack a (too) successful company and use the short attack to blackmail the company into paying up. I would not be surprised if the law firms are working with the government and hedge funds to extort money from QCOR.