America's fastest growing companies ranked by stock growth and state.
You’ve heard of so-called “garage sale millionaires”—folks who stumble upon thousand-year-old Chinese artifacts priced $2 million under market value? Questcor Pharmaceuticals had just that kind of luck back in 2001 when it bought anti-inflammatory drug Acthar Gel -- a drug made from the pituitary glands of pigs and approved by the FDA in 1952 -- for the bargain price of $100,000.
Questcor acquired the rights in 2001, and since 2007 has upped its price from $1,650 a vial to $28,000 today. The company’s stock has surged alongside the ascending rates.
Acthar is currently approved for 19 indications. Questcor prescribes it for rare infantile spasms, but the company’s exponential growth is owing to expanded prescriptions for multiple sclerosis, nephrotic syndrome, and, most recently, rheumatologic conditions. Sales for the second quarter reached $185 million, a 64% increase year-over-year. --S.G.