Sec Form 4 Filing - BLUTT MITCHELL J MD @ QUESTCOR PHARMACEUTICALS INC - 2012-09-04

FORM 4 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL OMB Number: 3235-0287 Expires: November 30, 2011 Estimated average burden hours per response... 0.5

1. Name and Address of Reporting Person BLUTT MITCHELL J MD 2. Issuer Name and Ticker or Trading Symbol QUESTCOR PHARMACEUTICALS INC [ QCOR] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) X __ Director _____ 10% Owner _____ Officer (give title below) _____ Other (specify below) (Last) (First) (Middle) 1300 NORTH KELLOGG DRIVE, SUITE D 3. Date of Earliest Transaction (MM/DD/YY) 09/04/2012 (Street) ANAHEIM, CA92807 4. If Amendment, Date Original Filed (MM/DD/YY) 6. Individual or Joint/Group Filing (Check Applicable Line) __ X __ Form filed by One Reporting Person _____ Form filed by More than One Reporting Person (City) (State) (Zip)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned 1.Title of Security (Instr. 3) 2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Code V Amount (A) or (D) Price Common Stock 09/04/2012 M 6,968 A $ 10.16 6,968 D Common Stock 09/04/2012 M 7,762 A $ 14.73 14,730 D Common Stock 09/04/2012 S 14,730 D $ 47.6 0 D Common Stock 09/04/2012 S 10,000 D $ 47.6 220,000 I See footnote ( 5 )

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities) 1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5) 6. Date Exercisable and Expiration Date (MM/DD/YY) 7. Title and Amount of Underlying Securities (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4) Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares Stock Option (right to buy) ( 1 ) $ 10.16 09/04/2012 M 4,885 ( 2 ) 06/30/2020 Common Stock 4,885 $ 0 0 D Stock Option (right to buy) ( 1 ) $ 10.16 09/04/2012 M 2,083 ( 3 ) 06/30/2020 Common Stock 2,083 $ 0 11,459 D Stock Option (right to buy) ( 1 ) $ 14.73 09/04/2012 M 7,762 ( 4 ) 12/31/2020 Common Stock 7,762 $ 0 2,238 D

Reporting Owners Reporting Owner Name / Address Relationships Director 10% Owner Officer Other BLUTT MITCHELL J MD 1300 NORTH KELLOGG DRIVE SUITE D ANAHEIM, CA92807 X Signatures /s/ Mitchell J. Blutt MD 09/06/2012 Signature of Reporting Person Date

Explanation of Responses:

( 1 )Options were granted under the Questcor Pharmaceuticals, Inc. 2004 Non-Employee Director's Stock Option Plan. ( 2 )The option was granted on 07/01/2010 for the right to buy 5,000 shares of common stock of the Issuer. The option was fully vested at the time of the grant. ( 3 )The option was granted on 07/01/2010 for the right to buy 25,000 shares of common stock of the Issuer. The option provided for monthly vesting over 48 months from the date of grant. ( 4 )The option was granted on 01/01/2011 for the right to buy 10,000 shares of common stock of the Issuer. The option was fully vested at the time of the grant. ( 5 )The reported securities are directly owned by Consonance Capital Master Account, L.P. and may be deemed beneficially owned by Consonance Capital Advisors, L.P., of which Dr. Blutt is the managing member. The reporting person disclaims beneficial ownership of the reported securities except to the extent of his or its pecuniary interest therein, and this report shall not be deemed an admission that such reporting person is the beneficial owner of the securities for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or for any other purpose.

Remarks: The sales reported on this Form 4 were effected pursuant to a Rule 10b5-1 Trading Plan adopted by the reporting person in the third quarter of 2012.

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).

** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.