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Bank of America has published a research report on Questcor Pharmaceuticals
QCOR that said it believes Aetna
AET will continue to review case by case.
In the report, Bank of America stated, "QCOR management held a conference call today to clarify the company's interpretation that Aetna's policy change will not be material to Acthar reimbursement. Management stated that most insurers have normally provided coverage for Acthar on a case-by-case basis, including Aetna. The company's support programs and patient targeting have thus far helped get coverage for
Acthar, despite increasing pushback from insurance providers. Management highlighted a historical success rate of ~85%, including appeals."
Bank of America maintained its Buy rating and $45 price objective on Questcor Pharmaceuticals, which is currently trading up 12.75 percent from Wednesday's $26.35 closing price.
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