EXHIBIT 99

                                                                 [QUESTCOR LOGO]

FOR IMMEDIATE RELEASE

COMPANY CONTACT:                                   INVESTORS AND MEDIA:
Questcor Pharmaceuticals, Inc.                     MacKenzie Partners, Inc.
Charles J. Casamento                               Lawrence Dennedy/Daniel Burch
Chairman, President & CEO                          800/322-2885
Timothy E. Morris, CFO
510/400-0700

                     QUESTCOR ADOPTS SHAREHOLDER RIGHTS PLAN

         UNION CITY, CA, FEBRUARY 12, 2003. The Board of Directors of Questcor
Pharmaceuticals, Inc. (AMEX: QSC) has declared a dividend distribution of one
Preferred Share Purchase Right on each outstanding share of Questcor common
stock. Subject to limited exceptions, the Rights will be exercisable if a person
or group acquires 15% or more of the Company's common stock, announces a tender
offer for 15% or more of the common stock, or otherwise becomes an Acquiring
Person (defined below). Under certain circumstances, each Right will entitle
shareholders to buy one one-hundredth of a share of newly created Series C
Junior Participating Preferred Stock of the Company at an exercise price of
$10.00. The Questcor Board will be entitled to redeem the Rights at $.01 per
Right at any time before a person becomes an Acquiring Person.

         The Rights are intended to enable all Questcor shareholders to realize
the long-term value of their investment in the Company. They do not prevent a
takeover, but should encourage anyone seeking to acquire the Company to
negotiate with the Board of Directors prior to attempting a takeover. The Rights
Plan will expire in 2013.

         The Rights are not being distributed in response to any specific effort
to acquire control of the Company. The Rights are designed to assure that all
Questcor shareholders receive fair and equal treatment in the event of any
proposed takeover of the Company and to guard against partial tender offers,
open market accumulations and other abusive tactics to gain control of Questcor
without paying all shareholders a control premium.

         If a person becomes an Acquiring Person, each Right will entitle its
holder to purchase, at the Right's then-current exercise price, a number of
common shares of Questcor having a market value at that time of twice the
Right's exercise price. Rights held by the Acquiring Person will become void and
will not be exercisable to purchase shares at the bargain purchase price. An
Acquiring Person is defined as a person who acquires 15% or more of the
outstanding common stock of Questcor (other than an Existing Holder (defined as
Sigma-Tau Finanziaria SpA, together with all of its Affiliates and Associates,
including, without limitation Defiante Farmaceutica L.D.A., Sigma-Tau
International S.A., Paolo Cavazza and Claudio Cavazza), unless and until such
time as the Existing Holder becomes the beneficial owner of one or more
additional shares of the outstanding common stock of Questcor, other than
additional shares purchased prior to June 15, 2003 in accordance with the terms
of that certain Letter Agreement

dated December 1, 2001 by and between Questcor and Sigma-Tau Finanziaria SpA,
Paolo Cavazza and Claudio Cavazza). If Questcor is acquired in a merger or other
business combination transaction which has not been approved by the Board of
Directors, each Right will entitle its holder to purchase, at the Right's
then-current exercise price, a number of the acquiring company's common shares
having a market value at that time of twice the Right's exercise price.

         The dividend distribution to establish the new Rights Plan will be
payable to shareholders of record on February 21, 2003. The Rights will expire
in 10 years. The Rights distribution is not taxable to shareholders.

About Questcor

Questcor Pharmaceuticals, Inc. is an integrated specialty pharmaceutical company
focused on the acquisition and marketing of acute care and critical care
hospital/specialty pharmaceutical and related healthcare products. Questcor
currently markets five products in the U.S.: HP Acthar(R) Gel, an injectable
drug that is commonly used in treating patients with infantile spasm, or West
Syndrome; Ethamolin(R), an injectable drug used to treat enlarged weakened blood
vessels at the entrance to the stomach that have recently bled, known as
esophageal varices; Glofil(R)-125 and Inulin in Sodium Chloride, which are both
injectable agents that assess how well the kidney is working by measuring
glomerular filtration rate, or kidney function; and VSL#3(TM), a patented
probiotic marketed as a dietary supplement, to promote normal gastrointestinal
(GI) function. As part of a strategy to develop its products globally, Questcor
has entered into 28 contractual relationships with public and private companies
including: Ahn-Gook Pharmaceuticals of Korea; Aventis Pharmaceuticals Inc. of
Bridgewater, NJ; Beacon Pharmaceuticals, Ltd. of Tunbridge Wells, Kent, United
Kingdom; CSC Pharmaceuticals Handels GmbH of Vienna, Austria; Dainippon
Pharmaceutical Co. Ltd., of Osaka, Japan; Orphan Australia of Melbourne,
Australia; Rigel, Inc. of South San Francisco, CA; Tularik, Inc. of South San
Francisco, CA and VSL Pharmaceuticals of Ft. Lauderdale, FL.