Shell Oil Rig Runs Aground in Alaska





An enormous Shell Oil offshore drilling rig ran aground on an island in the Gulf of Alaska on Monday night after it broke free from tow ships in rough seas, officials said.




The rig, the Kulluk, which was used for test drilling in the Arctic last summer, is carrying about 139,000 gallons of diesel fuel and 12,000 gallons of lubricating oil and hydraulic fluid, the officials said.


A Coast Guard helicopter flew over the rig after the grounding at 8:48 p.m. and “detected no visible sheen,” said Darci Sinclair, a spokeswoman for a unified command of officials from Shell, Alaskan state agencies and other groups that has been directing the response since the troubles with the rig began last Thursday.


Ms. Sinclair said that more overflights were planned after daybreak on Tuesday, and that the unified command would be monitoring the fuel situation as it planned further actions. “The focus will be around salvage,” she said.


The 266-foot diameter rig ran aground on the east coast of Sitkalidak Island, an uninhabited island that is separated by the Sitkalidak Strait from the far larger Kodiak Island to the west. The nearest town, Old Harbor, is across the strait on Kodiak Island; it has a population of about 200 people.


Ms. Sinclair said the coast where the Kulluk ran aground has a combination of rocky and sandy terrain.


Earlier Monday, a Shell spokesman had said that the rig had been brought under control after towlines were reconnected to two ships during a break in what had been several days of extremely rough seas and high winds.


But late Monday afternoon the line from one of the ships, the Aiviq, became separated. Then several hours later, the other ship, the Alert, was ordered to disconnect its towline, out of concern for the safety of the ship’s nine-person crew. At the time, Ms. Sinclair said, swells were as high as 35 feet and winds were gusting up to 65 miles an hour.


The Kulluk, one of two rigs that Shell used to drill test wells off the North Slope of Alaska as part of the company’s ambitious and expensive effort to open Arctic waters to oil production, was being towed by the Aiviq to a Seattle shipyard for off-season maintenance when the towline initially separated during a storm on Thursday.


The Aiviq then lost power, and other support ships and a Coast Guard cutter were brought in to help with engine repairs and to reconnect towlines to the Kulluk, which does not have its own propulsion system. The 18 workers aboard the rig were evacuated by Coast Guard helicopters on Saturday.


Over the weekend, support crews struggled in 25-foot swells to reconnect towlines, succeeding several times. But each time the lines separated again, leaving the rig in danger of drifting toward land.


The Kulluk, which was built in Japan in 1983 and upgraded over the past six years at a cost of $292 million, is designed for icy conditions in the Arctic. It can drill in up to 400 feet of water and up to 20,000 feet deep. During drilling season it carries a crew of about 140 people, Mr. Smith said.


Shell has spent six years and more than $4 billion in its effort to drill in Arctic waters, one of the last untapped oil-producing regions in the United States. But the effort has faced regulatory hurdles and opposition from American Indian and environmental groups.


Last summer, the Kulluk drilled a shallow test well in the Beaufort Sea while another rig drilled a similar hole in the Chukchi Sea to the west.


But Shell announced in September that it would be forced to delay further drilling until this year after a specialized piece of equipment designed to contain oil from a spill was damaged in a testing accident.


The episode was one of a number of setbacks for the Arctic drilling program last year.


Shell now says it hopes to drill five exploratory wells in the region during the 2013 drilling season, which begins in mid-July.


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Hillary Clinton expected to make full recovery from blood clot









WASHINGTON – The blood clot that led to Secretary of State Hillary Rodham Clinton’s hospitalization on Sunday is lodged in a vein behind her right ear, her doctors disclosed in a statement late Monday.


The doctors said the clot, called a right transverse sinus venous thrombosis, was discovered on Sunday when Clinton underwent an MRI as a “routine follow-up” to the treatment she has been receiving for a concussion. The vein runs between the brain and skull.


Drs. Lisa Bardack with the Mt. Kisco Medical Group and Gigi El-Bayoumi at The George Washington University Hospital said in their statement that the clot is being treated with blood thinners. They didn’t predict when she would be able to leave New York-Presbyterian Hospital, saying that she would be released “once the medication dose has been established.”





They said the clot didn’t result in a stroke or any neurological damage.


The doctors said that “in all other aspects of her recovery, the secretary is making excellent progress, and we are confident she will make a full recovery.” They described Clinton as being “in good spirits, engaging with her doctors, her family and her staff.”


Clinton suffered a concussion 2 1/2 weeks ago after she fell while she was battling a flu virus. She has made no public appearances since then and was forced to miss congressional hearings exploring the terrorist attack in September in Libya that killed four Americans.


With Clinton releasing only bare-bones information about her condition, most medical speculation has focused on the possibility that the clot formed in her leg while she was resting in bed trying to recover.


Clots in the leg are not uncommon and pose risks largely because they can travel into the lungs, potentially causing severe distress or even death. Clots in the head are rarer.


Clinton is in the final few weeks of her service as secretary of state. President Obama has chosen Sen. John Kerry (D-Mass.) to succeed her.


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The Best of Exploration: Top 8 Stories of Space Exploration in 2012

Our recap of the year’s best exploratory exploits continues today with a look at the biggest developments in space exploration. 2012 saw the stunning debut of new spacecraft (Curiosity), the continued contributions of geriatric ones (Voyager), and the first full year since the end of the Space Shuttle program. Casey Dreier of The Planetary Society nominated 8 particularly meaningful developments from the last twelve months.



Image: Dreier’s pick for image of the year, a Cassini photograph of Saturn’s north pole through an infrared filter. (Credit: NASA / JPL / SSI / Emily Lakdawalla)


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Kardashian, West feel ‘blessed’ over baby news






ATLANTIC CITY, N.J. (AP) — Kim Kardashian and Kanye West are feeling lucky about their first child together.


“It’s true,” the 32-year-old reality TV star said in a statement on her site Monday. “Kanye and I are expecting a baby. We feel so blessed and lucky and wish that in addition to both of our families, his mom and my dad could be here to celebrate this special time with us.”






Kardashian’s father, Robert Kardashian, died in 2003. West’s mother, Donda West, died in 2007.


Kardashian added in the blog post that she was “looking forward to great new beginnings in 2013 and to starting a family.”


The 35-year-old rapper revealed to a crowd of more than 5,000 in song form at a concert Sunday that his girlfriend is pregnant. Kardashian was in the crowd at Revel Resort’s Ovation Hall with her mother, Kris Jenner, and West’s mentor and best friend, Jay-Z.


The news instantly went viral online, with thousands posting and commenting on the expecting couple.


Most of the Kardashian clan tweeted about the news, including Kim’s sisters. Kourtney Kardashian wrote: “Another angel to welcome to our family. Overwhelmed with excitement!”


West told concertgoers to congratulate his “baby mom” and that this was the “most amazing thing.”


Representatives for West and Kardashian didn’t immediately respond to emails about the pregnancy.


The rapper and reality TV star went public with their relationship in March.


Kardashian married NBA player Kris Humphries in August 2011 and their divorce is not finalized.


West’s Sunday-night show was his third consecutive performance at Revel. He took the stage for nearly two hours, performing hits like “Good Life,” ”Jesus Walks” and “Clique” in an all-white ensemble with two bandmates.


Kardashian is expected to spend New Year’s Eve at public appearance at a Las Vegas nightclub.


___


AP Writer Bianca Roach contributed to this report.


___


Follow Mesfin Fekadu on Twitter at http://twitter.com/MusicMesfin . Follow Bianca Roach at http://twitter.com/B__Roach


Entertainment News Headlines – Yahoo! News





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F.D.A. Approves Sirturo, a New Tuberculosis Drug





The Food and Drug Administration announced on Monday that it had approved a new treatment for multidrug-resistant tuberculosis that can be used as an alternative when other drugs fail.




The drug, to be called Sirturo, was discovered by scientists at Janssen, the pharmaceuticals unit of Johnson & Johnson, and is the first in a new class of drugs that aims to treat the drug-resistant strain of the disease.


Tuberculosis is a highly infectious disease that is transmitted through the air and usually affects the lungs but can also affect other parts of the body, including the brain and kidneys. It is considered one of the world’s most serious public health threats. Although rare in the United States, multidrug-resistant tuberculosis is a growing problem elsewhere in the world, especially in poorer countries. About 12 million people worldwide had tuberculosis in 2011, according to Johnson & Johnson, and about 630,000 had multidrug-resistant TB.


A study in September in The Lancet found that almost 44 percent of patients with tuberculosis in countries like Russia, Peru and Thailand showed resistance to at least one second-line drug, or a medicine used after another drug had already failed.


Treating drug-resistant tuberculosis can take years and can cost 200 times as much as treating the ordinary form of the disease


“This is quite a milestone in the story of therapy for TB,” Dr. Paul Stoffels, the chief scientific officer at Johnson & Johnson, said in an interview. He said the approval was the first time in 40 years that the agency had approved a drug that attacked tuberculosis in a different way from the current treatments on the market. Sirturo works by inhibiting an enzyme needed by the tuberculosis bacteria to replicate and spread throughout the body.


Sirturo, also known as bedaquiline, would be used on top of the standard treatment, which is a combination of several drugs. Patients with drug-resistant tuberculosis often must be treated for 18 to 24 months.


Even as it announced the approval, however, the F.D.A. also issued some words of caution.


“Multidrug-resistant tuberculosis poses a serious health threat throughout the world, and Sirturo provides much-needed treatment for patients who have don’t have other therapeutic options available,” Edward Cox, director of the office of antimicrobial products in the F.D.A.’s center for drug evaluation and research, said in a statement. “However, because the drug also carries some significant risks, doctors should make sure they use it appropriately and only in patients who don’t have other treatment options.”


The consumer advocacy group Public Citizen opposed approval in a letter to the F.D.A. in mid-December, saying that the results of a limited clinical trial showed that patients using bedaquiline were five times as likely to die than those on the standard drug regimen to treat the disease.


“Given that bedaquiline belongs to an entirely new class of drugs, it is entirely feasible that death in some cases was due to some unmeasured toxicity of the drug,” the letter said.


Sirturo carries a so-called black box warning for patients and health care professionals that the drug can affect the heart’s electrical activity, which could lead to an abnormal and potentially fatal heart rhythm. The warning also notes deaths in patients treated with Sirturo. Nine patients who received Sirturo died compared with two patients who received a placebo. Five of the deaths in the Sirturo group and all of the deaths in the placebo arm seemed to be related to tuberculosis, but no consistent reason for the deaths in the remaining Sirturo-treated patients could be identified.


Doctors Without Borders and the Bill and Melinda Gates Foundation, both active in the fight against tuberculosis and other global diseases, applauded the F.D.A.’s decision.


Jan Gheuens, interim director of the TB Program for the Gates Foundation, called it a “long-awaited event” and said the fight against TB had not benefited from new drugs in the way H.I.V. had. Beyond the benefits of the drug itself, he said the quick approval process could be a model for other drugs sorely needed in the developing world.


He also suggested, however, that more trials should be conducted to get a better understanding of the side effects that led to the black box warning.


The F.D.A. approved bedaquiline under an accelerated program that allows the agency to conditionally approve drugs that are viewed as filling unmet medical needs with less than the usual evidence that they work. The drug’s approval was based on studies that showed it killed bacteria more quickly than a control group taking the standard regimen, but it did not measure whether in the end patients actually fared better on bedaquiline. Johnson & Johnson will conduct larger clinical trials to investigate whether the drug performs as predicted.


In a statement responding to Public Citizen’s letter, a spokeswoman for Johnson & Johnson said the company was committed to supporting appropriate use of Sirturo and would “work to ensure Sirturo is used only where treatment alternatives are not available.”


Dr. Stoffels said the hope was that other new tuberculosis drugs would also be approved that, when used in combination with bedaquiline, could shorten and simplify the current standard of treatment. “That is still a long time away,” he acknowledged, but “this is a first step in a new regimen for TB.”


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Big in 2012, but the Future Is Hazy for Bonds


The big story in the markets this year was not about stocks.


Americans sold off their stock mutual funds, the most popular way to invest in American companies, at the fastest clip since 2008, the year the financial crisis began. That occurred despite the fact that the stock market itself rose steadily; the benchmark Standard & Poor’s 500-stock index ended the year up 13.4 percent.


Investors have been opting instead for the assumed safety of bonds. Money has been steadily flowing into mutual funds holding bonds of all sorts for the last four years, but the pace accelerated this year. The percentage of household investments in bonds shot up to 26 percent from 14 percent just five years ago, according to Morningstar.


Entering the new year, a growing number of professional investors are betting that the craze for bonds has gone too far, perhaps dangerously so, as has been evident in the headlines from the year-end reports from large investment firms. “Bond PAIN in 2013?” Wells Capital Management’s chief strategist asked. “Caution: Turn Ahead,” BlackRock analysts wrote. “The inflection year,” said Bank of America.


This is not the first time that analysts have forecast an end to the decades-long rally in bond values. But previously many of the voices predicting it were pessimists who believed that investors would sell off their bonds when they lost faith in the American government’s ability to pay back its bonds, forcing the government and many other bond issuers to pay higher interest rates. When interest rates rise, older bonds with lower interest rates are worth less.


While those previous forecasts have proved expensively wrong, this year the forecasters are being joined by many economic optimists who argue that a strengthening American economy is likely to make investors willing to embrace the risks involved in stocks, luring them out of bonds. The question, they say, is only how quickly it will happen.


“Mathematically, it’s next to impossible to get the kind of returns on bonds you’ve seen over the last few years,” said Kate Moore, the chief global equity strategist at Bank of America.


When the turn does ultimately come, it is likely to cause pain for at least some of the people who have been investing in bonds in recent years.


“You don’t want to be the last one out the door when the trends turn,” said Rebecca H. Patterson, the chief investment strategist at Bessemer Trust. “All good things come to an end and we want to make sure we’re in front of it.”


Most of the talk of investors shifting money from bonds into stocks relies first on the assumption that politicians in Washington are able to resolve the current impasse over the so-called fiscal cliff, the automatic spending cuts and tax increases that will go into effect if Congress and President Obama cannot come to an agreement, and the coming debate over the nation’s debt ceiling. If the political discord continues, it could renew investor attraction to the safety of bonds and put off any shift into stocks.


But a number of surveys suggest that professional investors are already starting to prepare for a change. Hedge funds polled by Bank of America said that they had more of their portfolio allocated to stocks than at any time since 2006.


All but one of the 13 bank strategists tracked by Birinyi Associates expects stock markets to rise in 2013. When 2012 began, the same strategists were predicting a downturn in share prices. Even among mutual fund investors, there are signs that the flows out of stocks and into bonds have been slowing down recently.


The preference for bonds has already been costly for retail investors. Over the last year, most types of American bonds have returned less than an investment in the S.&. P. 500. When inflation is factored in, the benchmark 10-year Treasury security is delivering negative returns.


But many investors are still rattled by the 2008 financial crisis and the turbulence in the stock markets since then, which have led to wild swings. Over the last five years, all major types of American bonds have done better than leading stock indexes.


The Federal Reserve has been engaged in an aggressive effort to buy bonds and drive down interest rates. The long term goal of that program is to encourage banks to lend money and to drive investors out of bonds. But in the meantime, falling interest rates have made bonds more attractive. The Fed has said it wants to keep rates low until 2015, though it could let them rise sooner if the economy picks up faster than expected. The 10-year Treasury hovered near 4 percent in recent years but has stayed below 2 percent for much of 2012.


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Five dead, more than 20 injured in icy Oregon bus crash















































Five people were killed and more than 20 injured in a bus crash Sunday in northeast Oregon, officials said.


Oregon State Police said the charter bus -- whose company, destination and point of origin have not been identified -- was carrying about 40 passengers west on Interstate 84 when the driver lost control in the ice and snow sometime before 10:30 a.m. 


The bus crashed through a guardrail and tumbled several hundred feet down an embankment.








The tough terrain in the area, near a place known as Immigrant Hill, hampered the rescue. Emergency workers had to form rope teams to recover survivors, officials said.


Police said the five killed were declared dead at the scene, and many of the injured were taken to St. Anthony Hospital in Pendleton.


Larry Blanc, spokesman for the hospital, told the Los Angeles Times on Sunday afternoon that the hospital had 18 injured passengers and that four or five others had been taken to other hospitals.


Surgeries were underway, and no one had been declared dead at the hospital, Blanc said. He did not know the survivors' conditions.


“I’ve seen some that have been standing and walking into the triage area" at the hospital, Blanc said.


He said the hospital initiated a "disaster code" after it received word of the crash about a dozen miles away.


The crash was the second to occur Sunday morning on Interstate 84 in northeast Oregon. State police said a 69-year-old man died when the Ford F-350 pickup he was riding in hit an icy stretch of road and rolled over two and a half times.


ALSO:


Woman charged with murder in subway pushing death








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Wired Science's Top Image Galleries of the Year

Many of our most popular posts are image galleries, and this year our readers favorite collections included microscope photos, doomsday scenarios, auroras and lots of images of Earth from space.


The satellite image above of Brasilia is part of the most popular post of the year.


Above:

I think it's safe to say that our readers like looking at images of Earth from space almost as much as we do. Satellite imagery was the subject of four of Wired Science's 10 most popular galleries of 2012, with this gallery of planned cities topping the list.


See the full gallery.


Image: NASA/USGS

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“The Hobbit” keeps box office crown for third week






(Reuters) – The dwarfs and elves of “The Hobbit: An Unexpected Journey” prevailed at the North American box office again over the weekend, as its $ 32.9 million in ticket sales topped both the star-packed musical “Les Miserables” and the western “Django Unchained.”


Despite surging past “The Hobbit” on Christmas day with an $ 18.1 million opening, “Les Miz” managed only third place in U.S. and Canadian sales with $ 28 million as Christmas shoppers returned from the malls to boost Hollywood‘s box office, according to studio estimates.






The Hobbit,” in its third week of release, has now grossed $ 222.7 million domestically, Warner Bros said.


Quentin Tarantino’s “Django Unchained,” a western starring Jamie Fox as a slave turned bounty hunter, took second with an impressive $ 30.7 million.


Tom Cruise’s crime drama “Jack Reacher,” which features author Lee Child’s former military investigator solving a fatal sniper attack, landed in fifth with $ 14 million, outpaced by “Parental Guidance,” the Billy Crystal-Bette Midler as grandparents comedy which took in $ 14.8 million to nab fourth.


Chris Aronson, president of domestic distribution for Fox, said the “Parental Guidance” performance was “just a tremendous result for our little engine that could.”


Backed by a musical score that made it a Broadway icon, “Les Miz” surged past “The Hobbit” on Christmas day, collecting $ 18.1 million to pass “High School Musical 3: Senior Year” with the biggest midweek opening day by a musical.


But it was not enough to conquer the “Hobbit” juggernaut, which scored its third straight box office weekend win.


Universal’s president for domestic distribution Nikki Rocco called the “Les Miz” $ 28 million take “phenomenal, especially considering we went into the weekend with $ 40 million,” an unexpectedly strong figure for its first few days in release.


“People really love this movie, which is even more rewarding and gratifying,” Rocco said.


“Les Miserables,” which stars Hugh Jackman, Russell Crowe and Anne Hathaway, benefited from Oscar buzz and its star power, said Paul Dergarabedian, president of Hollywood.com’s box office division, who said he wouldn’t be surprised to see the musical pass $ 200 million before it’s done.


That would put it among the Hollywood‘s Top 20 best-selling musicals. It would pass the 1972 film “Cabaret,” which grossed $ 191 million in box office sales adjusted for higher ticket prices, and put it close to “Camelot,” which sold $ 204.5 million in 1967, according to the web site the-numbers.com.


The most successful musical is “Snow White and the Seven Dwarfs,” which grossed more than $ 6.3 billion but has been re-released by Walt Disney nine times since its 1937 premiere, according to the site.


A rush of high-profile films in December is expected to push 2012 to a domestic box office record. The current record is $ 10.6 billion, set in 2009.


Jack Reacher” debuted just days after the Newtown, Connecticut, school shooting sparked new debate about the impact of movie violence. “Reacher” begins with a sniper killing a handful of seemingly random victims. A red-carpet premiere and a screening to promote the $ 60-million production were postponed after the December 14 Newtown tragedy.


Adult comedy “This is 40″ starring Paul Rudd and Leslie Mann as a middle-aged couple was sixth with $ 13.2 million. The Judd Apatow $ 35 million film totaled $ 37 million after two weeks. The seventh spot went to Steven Spielberg’s historical film “Lincoln,” with $ 7.5 million for a $ 132 million domestic total.


Comedy “The Guilt Trip,” starring Barbra Streisand and Seth Rogen as a mother and son on a cross-country drive, pulled in $ 6.7 million for eighth.


Also this week the latest James Bond hit “Skyfall” topped $ 1 billion in worldwide sales, despite falling out of the week’s top 10 films at the box office.


The Hobbit” was distributed by Time Warner Inc’s Warner Bros studio. Paramount Pictures, a unit of Viacom Inc released, “Jack Reacher” and “The Guilt Trip.” Comcast Corp’s Universal Studios released “Les Miserables” and “This is 40.” “Django Unchained” was released in the United States by the Weinstein Company.


(Reporting By Ronald Grover; Editing by Cynthia Osterman)


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Questcor Finds Profit for Acthar Drug, at $28,000 a Vial


Kevin Moloney for The New York Times


Christina Culver with her son Tyler, 6, at home in Colorado Springs this month. In 2007, Tyler was hospitalized when the price of Acthar soared.





THE doctor was dumbfounded: a drug that used to cost $50 was now selling for $28,000 for a 5-milliliter vial.


The physician, Dr. Ladislas Lazaro IV, remembered occasionally prescribing this anti-inflammatory, named H.P. Acthar Gel, for gout back in the early 1990s. Then the drug seemed to fade from view. Dr. Lazaro had all but forgotten about it, until a sales representative from a company called Questcor Pharmaceuticals appeared at his office and suggested that he try it for various rheumatologic conditions.


“I’ve never seen anything like this,” Dr. Lazaro, a rheumatologist in Lafayette, La., says of the price increase.


How the price of this drug rose so far, so fast is a story for these troubled times in American health care — a tale of aggressive marketing, questionable medicine and, not least, out-of-control costs. At the center of it is Questcor, which turned the once-obscure Acthar into a hugely profitable wonder drug and itself into one of Wall Street’s highest fliers.


At least until recently, that is. Now some doctors, insurance companies and investors are beginning to have doubts about whether the drug is really any better than much cheaper alternatives. Short-sellers have written scathing criticisms of the company, questioning its marketing tactics and predicting that its shareholders are highly vulnerable.


 That Acthar is even a potential blockbuster is a remarkable turn of events, considering that the drug was developed in the 1950s by a division of Armour & Company, the meatpacking company that once ruled the Union Stock Yards of Chicago. As in the 1950s, Acthar is still extracted from the pituitary glands of slaughtered pigs — essentially a byproduct of the meatpacking industry.


The most important use of Acthar has been to treat infantile spasms, also known as West syndrome, a rare, sometimes fatal epileptic disorder that generally strikes before the age of 1.


For several years, Questcor, which is based in Anaheim, lost money on Acthar because the drug’s market was so small. In 2007, it raised the price overnight, to more than $23,000 a vial, from $1,650, bringing the cost of a typical course of treatment for infantile spasms to above $100,000. It said it needed the high price to keep the drug on the market.


“We have this drug at a very high price right now because, really, our principal market is infantile spasms,” Don M. Bailey, Questcor’s chief executive, told analysts in 2009. “And we only have about 800 patients a year. It’s a very, very small — tiny — market.”


Companies often charge stratospheric prices for drugs for rare diseases — known as orphan drugs — and Acthar’s price is not as high as some. Society generally tolerates those costs to encourage drug companies to develop crucial, possibly lifesaving drugs for these often neglected diseases.


But Questcor did almost no research or development to bring Acthar to market, merely buying the rights to the drug from its previous owner for $100,000 in 2001. And while the manufacturing of Acthar is complex, it accounts for only about 1 cent of every dollar that Questcor charges for the drug.


Moreover, the tiny “orphan” market soon became much bigger. Before long, Questcor began marketing the drug for multiple sclerosis, nephrotic syndrome and rheumatologic conditions, even though there is little evidence that Acthar is more effective for those other conditions than alternatives that are far cheaper. And the company did so without being required to prove that the drug actually works. That is because Acthar was approved for use in 1952, before the Food and Drug Administration required clinical trials to show a drug is effective for a particular disease. Acthar is essentially grandfathered in.


Today, only about 10 percent of the drug’s sales are for infantile spasms. The new uses, Mr. Bailey has told analysts, represent multibillion-dollar opportunities for Acthar and Questcor, its sole maker.


The results have been beyond even the company’s wildest dreams. Sales of Acthar, which accounts for essentially all of Questcor’s sales, totaled nearly $350 million in the first nine months this year, up 145 percent from the period a year earlier. In the same period, Questcor’s earnings per share nearly tripled, to $2.12. In the five years after the big Acthar price increase in August 2007, Questcor shares rose from around 60 cents to about $50, in one of the best performances of any stock in any industry.


But in September, the shares plummeted after Aetna, the big insurer, said it would no longer pay for Acthar, except to treat infantile spasms, because of lack of evidence the drug worked for other diseases. The stock now trades at $26.93.


Peter Wickersham, senior vice president for cost of care at Prime Therapeutics, a pharmacy benefits manager that has found the drug is possibly being overused, says the huge increase in Acthar’s price for patients “just invites the type of scrutiny that it’s received.”


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