Questcor’s stock leapt nearly 40% during trading yesterday as investors welcomed its $135m-plus purchase of Novartis’ rival immune drug Synacthen.
The US speciality pharma said it has bought rights to develop Synacthen (tetracosactide) and Synacthen Depot in its domestic market, and potentially some other regions (subject to closing conditions).
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Tetracosactide (marketed under the brand name Synacthen) is a synthetic analogue consisting of the first 24 amino acids of the naturally occurring adrenocorticotrophic hormone (ACTH). It is known to be used as a doping agent to increase the secretion of glucocorticoids by adrenal glands.