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