QUESTCOR PHARMACEUTICALS INC - FORM 8-K - EX-99.3 - PRESENTATION SLIDES USED DURING CONFERENCE CALL

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8-K - FORM 8-K - QUESTCOR PHARMACEUTICALS INC	d340254d8k.htm
EX-99.2 - TRANSCRIPT OF CONFERENCE - QUESTCOR PHARMACEUTICALS INC	d340254dex992.htm
EX-99.1 - PRESS RELEASE - QUESTCOR PHARMACEUTICALS INC	d340254dex991.htm

First Quarter 2012

Conference Call

First Quarter 2012

Conference Call

NASDAQ:

QCOR

NASDAQ:

QCOR

Exhibit 99.3

•

Today’s webcast, accompanying slide presentation

and archived replay is available online at

http://ir.questcor.com/events.cfm

•

Telephone replay is available by dialing:

–

U.S.: 855-859-2056

–

International: 404-537-3406

–

Replay Passcode: 70200329

•

Today’s webcast, accompanying slide presentation

and archived replay is available online at

http://ir.questcor.com/events.cfm

•

Telephone replay is available by dialing:

–

U.S.: 855-859-2056

–

International: 404-537-3406

–

Replay Passcode: 70200329

Conference Call Logistics

Safe Harbor Statement

Note: Except for the historical information contained herein, this press release contains forward-looking statements that

have been made pursuant to the Private Securities Litigation Reform Act of 1995. These statements relate to future events

or our future financial performance. In some cases, you can identify forward-looking statements by terminology such as

"believes," "continue," "could," "estimates," "expects," "growth," "may," "plans," "potential," "should," "substantial" or

"will" or the negative of such terms and other comparable terminology. These statements are only predictions. Actual

events or results may differ materially. Factors that could cause or contribute to such differences include, but are not

limited to, the following: Our reliance on Acthar for substantially all of our net sales and profits; Reductions in vials used

per prescription resulting from changes in treatment regimens by physicians or patient compliance with physician

recommendations; The complex nature of our manufacturing process and the potential for supply disruptions or other

business disruptions; The lack of patent protection for Acthar; and the possible FDA approval and market introduction of

competitive products; Our ability to continue to generate revenue from sales of Acthar to treat on-label indications

associated with NS, and our ability to develop other therapeutic uses for Acthar; Research and development risks, including

risks associated with Questcor's work in the area of NS and potential work in the area of Lupus, and our reliance on third-

parties to conduct research and development and the ability of research and development to generate successful results;

Our ability to comply with federal and state regulations, including regulations relating to pharmaceutical sales and

marketing practices; Regulatory changes or other policy actions by governmental authorities and other third parties in

connection with U.S. health care reform or efforts to reduce federal and state government deficits; Our ability to receive

high reimbursement levels from third party payers; An increase in the proportion of our Acthar unit sales comprised of

Medicaid-eligible patients and government entities; Our ability to estimate reserves required for Acthar used by

government entities and Medicaid-eligible patients and the impact that unforeseen invoicing of historical Medicaid

prescriptions may have upon our results; Our ability to effectively manage our growth, including the expansion of our NS

selling effort, and our reliance on key personnel; The impact to our business caused by economic conditions; Our ability to

protect our proprietary rights; The risk of product liability lawsuits; Unforeseen business interruptions and security

breaches; Volatility in Questcor's monthly and quarterly Acthar shipments, estimated channel inventory and end-user

demand, as well as volatility in our stock price; and Other risks discussed in Questcor's annual report on Form 10-K for the

year ended December 31, 2011 as filed with the Securities and Exchange Commission, or SEC, on February 22, 2012, and

other documents filed with the SEC.

The risk factors and other information contained in these documents should be considered in evaluating Questcor's

prospects and future financial performance.

•

238 paid NS scripts

•

1,000 paid MS scripts

–

Up 97% YOY

•

112 paid IS scripts

•

Record financial performance

–

4,111 vials shipped, up 105% YOY

–

$96.0M in net sales, up 161% YOY

–

$0.58 GAAP EPS (diluted), up 241% YOY

•

238 paid NS scripts

•

1,000 paid MS scripts

–

Up 97% YOY

•

112 paid IS scripts

•

Record financial performance

–

4,111 vials shipped, up 105% YOY

–

$96.0M in net sales, up 161% YOY

–

$0.58 GAAP EPS (diluted), up 241% YOY

Strong First Quarter Results

Paid Rxs

NS Scripts-Strong Continued Growth

Yellow numbers in the bars show the number of NS sales

representatives making calls for the majority of the quarter. Q3 ‘11

included expansion and training of new sales people.

Notes: Historical trend information is not necessarily indicative of future results. Chart includes "Related Conditions" - diagnoses that

are either alternative descriptions of the condition or are closely related to the medical condition which is the focus of the chart.

Notes: Historical trend information is not necessarily indicative of future results. Acthar is marketed for the on-label indication of MS

exacerbations

adults,

though

the

chart

includes

"Related

Conditions"

diagnoses

that

are

either

alternative

descriptions

the

condition

are closely related to the medical condition which is the focus of the chart. About 5% of the prescriptions in the tables are for related conditions.

Yellow numbers in the bars show the number of MS sales representatives making calls for the majority of the quarter.

Notes: Historical trend information is not necessarily indicative of future results. Acthar is marketed for the on-label indication of MS

exacerbations

adults,

though

the

chart

includes

"Related

Conditions"

diagnoses

that

are

either

alternative

descriptions

the

condition

are closely related to the medical condition which is the focus of the chart. About 5% of the prescriptions in the tables are for related conditions.

Yellow numbers in the bars show the number of MS sales representatives making calls for the majority of the quarter.

MS Scripts-Record of Consistent Growth

Paid Rxs

15-30

reps

30-38

reps

38-77

reps

Monthly MS Scripts History

Notes: Historical trend information is not necessarily indicative of future results. Acthar is marketed for the on-label indication of MS

exacerbations

adults,

though

the

chart

includes

"Related

Conditions"

diagnoses

that

are

either

alternative

descriptions

the

condition

are closely related to the medical condition which is the focus of the chart. About 5% of the prescriptions in the tables are for related conditions.

Notes: Historical trend information is not necessarily indicative of future results. Acthar is marketed for the on-label indication of MS

exacerbations

adults,

though

the

chart

includes

"Related

Conditions"

diagnoses

that

are

either

alternative

descriptions

the

condition

are closely related to the medical condition which is the focus of the chart. About 5% of the prescriptions in the tables are for related conditions.

Growth in Shipped Vials

•

Generating more data

for on-label indications

–

Lupus

•

Generating more data

for on-label indications

–

Lupus

•

Investigating Acthar in

new indications

–

Diabetic nephropathy

–

Autism

–

Traumatic brain injury

–

ALS

–

Migraine

•

Investigating Acthar in

new indications

–

Diabetic nephropathy

–

Autism

–

Traumatic brain injury

–

ALS

–

Migraine

Over 40 Acthar R&D and Investigator

Initiated Research Studies

Understanding Acthar:

the science of how it works

Q1 –

2012

Q1 –

2011

Net Sales ($M)

$96.0

$36.8

Gross Margin

94%

95%

Operating Income ($M)

$57.3

$16.4

Fully Diluted, GAAP EPS

$0.58

$0.17

Q1-2012 Financial Results

•

First quarter vials shipped: 4,111

•

First quarter cash flow from operations: $40.9M

•

Channel inventory estimated to be higher than fourth quarter

•

Medicaid reserves continue to appear adequate

•

798,285 shares repurchased during Q1-2012

•

First quarter vials shipped: 4,111

•

First quarter cash flow from operations: $40.9M

•

Channel inventory estimated to be higher than fourth quarter

•

Medicaid reserves continue to appear adequate

•

798,285 shares repurchased during Q1-2012

Record Net Sales (up 161%) and Solid Earnings (EPS up 241%)

04/20/12

Cash / ST Investments

$248M*

Accounts Receivable

$37M

Questcor is Cash Flow Positive

*After return of $107 million of cash to shareholders through share repurchases.

Debt-free balance sheet

Acthar has sustainable competitive

advantages-without FDA approval risk

Acthar is approved for 19 indications-many

in large markets with sizable unmet need

Sales in NS and MS are growing rapidly,

yet market penetration is low

Developing new vertical market -

Rheumatology

High margins provide good

operating leverage

Profitable, cash flow positive, no debt

Investment Highlights

QUESTCOR PHARMACEUTICALS INC - FORM 8-K - EX-99.3 - PRESENTATION SLIDES USED DURING CONFERENCE CALL - April 26, 2012

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