Questcor to be Bought By Mallinckrodt for $5.6 Billion in Stock and Cash and Procter & Gamble Increases Quarterly Dividend by 7%
Questcor Pharmaceuticals, Inc. (NASDAQ: QCOR) shares closed up 18% on Monday and also hit a new yearly high of $89.30 during intra-day trading. Mallinckrodt is buying the California-based company for a combination of stock and cash valued at about $5.6 billion. Mallinckrodt makes a range of specialty pharmaceuticals. Questcor's primary product is H.P. Acthar Gel, which is used in the management of autoimmune and inflammatory conditions. It is approved in the U.S. for treating 19 indications.
Questcor Pharmaceuticals, Inc., a biopharmaceutical company, provides drugs for the treatment of autoimmune and inflammatory disorders. The company primarily offers H.P. Acthar Gel, an injectable drug to induce a diuresis or a remission of proteinuria in the nephrotic syndrome without uremia of the idiopathic type or that due to lupus erythematosus; as exacerbation or maintenance therapy in various cases of systemic lupus erythematosus and systemic dermatomyositis; and as adjunctive therapy for short-term administration in psoriatic arthritis, rheumatoid arthritis, and ankylosing spondylitis. Its H.P. Acthar Gel is also used for the treatment of acute exacerbations of multiple sclerosis in adults; and as monotherapy for the treatment of infantile spasms in infants and children under two years of age.
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The Procter & Gamble Company (NYSE: PG) has increased its quarterly dividend 7% to 64.36 cents a share from 60.15 cents a share Monday. The quarterly dividend is payable on May 15 to all shareholders of record as of the close of business on April 25. The ex-dividend date is set for April 22. The Procter & Gamble Co. has paid a quarterly dividend since the company was incorporated in 1890.
The Procter & Gamble Company, together with its subsidiaries, manufactures and sells branded consumer packaged goods. The company operates through five segments: Beauty, Grooming, Health Care, Fabric Care and Home Care, and Baby Care and Family Care. The Beauty segment offers antiperspirants and deodorants, cosmetics, personal cleansing, skin care, hair care, hair colors, prestige products, and professional salon products under the Head & Shoulders, Olay, Pantene, SK-II, and Wella brand names. The Grooming segment provides blades and razors, pre- and post-shave products, and electronic hair removal devices under the Braun, Fusion, Gillette, Mach3, and Prestobarba brand names.
Get more information on The Procter & Gamble Company free access to the in depth equity report at: www.TrendingWallStreet.com/stockquote/PG
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