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Questcor Pharmaceuticals, Inc. (QCOR) Message Board

  • niepmln niepmln Oct 30, 2013 1:01 PM Flag

    Just spoke with Patty in IR

    She mentioned that these type of investigations are not uncommon in the pharm industry and mentioned there are over 50 of these on going in the industry itself, not with QCOR. She said one of the analysts was working on possibly summarizing all of these type of investigations in the pharm industry to put things in perspective. Additional lawyers jumping in on the case in hopes of some type of settlement to get a piece of the pie, ie ambulance chasers of the pharm industry. This notification was ONLY VERBAL and said they just called and said they want to participate in the investigation. Sounds like an ambulance chaser. She did not let me know when they found out but said if they thought it was a material update they would have filed it separately, but didn't want to bury it in the 10q to leave investors panicked. Looks like everyone panicked anyway. Seems like a non issue but the market obviously doesn't like uncertainty. Once folks get there emotions under control we should be back up. Remember, fundamentals were great, huge beat.

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    • QCOR botched the investigation announcement in my mind...should have come from the CEO...not an IR person...and with some color and a reminder that QCOR always takes the high road and deals with any discovered malfeasance harshly. Some non-specific assurance to shareholders. Instead, the news was just dangled out there and prompted investors to begin pushing the sell button, maybe even ignoring the rest of the cc.

      No surprise...QCOR's weakest area is communication. And this time, the weak link snapped and broke the chain--temporarily. Glad they run a drug company and serve patients far better than they communicate with shareholders and the media.

      That said, this company is a huge bargain under $60 and I am steadily adding even though already overweight.
      No reason to believe Q4 will be anything less than another record setter with rheumatology far from peaked and pulmonology coming on line.

      Sentiment: Strong Buy

    • So there are a little over 50 ongoing investigations in the entire industry and QCOR has 3 of them? How lucky!

    • Has any one asked Patty if QCOR has contacted the SEC in regards to investigating the heavy manipulation and false information by the shorts. I can't believe this kind of manipulation is tolerated.

      Sentiment: Strong Buy

      • 2 Replies to like_it_a_whole_lot
      • The SEC has been after tactics from SAC ....and naked short sellers and guys who do Reverse Conversions....synthetic shorts then dont deliver shares that have sold naked.....a growing problem.....

        The SEC needs to look there and not at Questcor IMO.

        Look up Amgen who had 14 states after their practices (kickbacks) if you are worried and see its stock price.

        We need more positive news and ongoing growth and this will soon pass. Don Bailey is an above board CEO per everything that I have heard, so rest assured that he will lead us through to better days.


      • You bring up a great point and I actually think the SEC involvement may be a blessing in disguise. The direct interface could allow for some of the allegations to be investigated all the way back to the starting point which is a one way street to Shorty in my opinion. Whether it is Andrew Left, Adam and his friend Cramer, or some other entity. Maybe we can begin the formal process of connecting the dots to the real criminals in this case.

        Our involvement could be one rouge sales person who was over zealous and cutting corners to fatten up their bonus checks. The slap us with a 10mm fine and on we go. The SEC needs to go after the over 600 milion in long losses due to the unlawful short tactics used to get the attention of AG and the SEC. Fine them, take away their profits and put them behind bars.

        Sentiment: Strong Buy

    • Thanks for the call and letting us know.

      Pretty disappointed that they didn't just bury it in the 10-Q. Seriously, it's pretty dumb to me how they handled it. If, for example, they set aside $10million as legal liability, then at least it implies the company only expects the whole thing to cost $10million, even if it costs way more. The way they did it they left the door open for what happened.

      Short term, I'm sticking it out. Long term, I might be out. Company needs to learn how to deal with issues like this. Even announcing it a day or two ago would have been waaaaay better. They make the announcement, we plummet, then they announce earnings and we bounce back. Very frustrating as an investor.

      • 2 Replies to goldtean
      • Gold

        If they had buried it in the 10Q, then Citron or Muddy Waters would have dug it up, put their warped spin on it, and hurt the stock much worse than what we see today. While I believe QCOR did the best thing under the circumstances, I believe a fuller public explanation needs to be put out there as to WHY the company thinks this was a non-material development, is common in the industry, and is not likely an obstacle to the company's future prospects.

    • Bump!

      Sentiment: Strong Buy

    • niepmin you stated that IR said:

      "Additional lawyers jumping in on the case in hopes of some type of settlement to get a piece of the pie, ie ambulance chasers of the pharm industry. This notification was ONLY VERBAL and said they just called and said they want to participate in the investigation. Sounds like an ambulance chaser"

      It was my understanding that the "Verbal Notification" was from the DOJ am I way out in left field and not understanding what you are talking about.


      • 4 Replies to beeglebatty
      • Yeah, that line doesn't make sense. The notice was of additional government entities, not individual lawyers who could be categorized as analogous to ambulance chasers.

      • The piece of the pie comment was actually from IR in a casual comment about the new groups investigating. Sorry if I created confusion, don't believe it is a separate entity, same DOJ, just new offices. I'm not sure how DOJ cases get settled or if the offices investigating get paid to be apart of the investigation. Does each office get a piece of the pie? Dunno. They must have their pet projects because fast and furious was not a priority so perhaps financial payouts may be motivators but I don't know. Anyone else have any insights into how these get settled, does it just pay down the national debt. Hah. I'm sure the offices receive some kind of compensation or get paid for their hours? Anyways, it is still speculation that any settlement will have to be paid. Fundamentals are still great.

      • Here is what was said at cc:
        "We would like to also let you know that Questcor has been verbally informed by the U.S. Attorney’s office in Philadelphia that the USAO for the Southern District of New York and Los Angeles office of the Securities and Exchange Commission are also participating in the ongoing investigation by the USAO in Philadelphia. Questcor is cooperating with these groups and understand that this type of development is not uncommon in investigations like these."

        So I am confused as well. I think we need more clarity here since it seems the market may be over reacting. A great buying opportunity assuming the investigation doesn't have much legs to it, but without a more detailed response this will remain a cloud and overshadow excellent earnings reports.

        Sentiment: Strong Buy

    • Maybe you should've talked to Jim in plumbing instead because our stock is getting flushed down the crapper today.

      Sentiment: Strong Buy

    • Thank you for reporting on the call. Saves Patty taking 4 dozen calls.

      Sentiment: Strong Buy

    • Might want to look up Qui Tam (Latin) law that still exist. Some shorts could use that to cause investigation with no recourse.

    • The news of improved earnings was great, and is getting overshadowed at the moment. Sometimes there is a delaying price movement like I just saw on MDVN and GILD news....institutions are letting retail sell, then the big guys like FMR and Blackrock will play clean up like they usually do.

      I have added a few times and expect that we will see a reversal very soon.


      Sentiment: Strong Buy

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