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Hospira Generics Company Intelligence Report
Espicom Business Intelligence Ltd, Jan 2011, Pages: 18
Hospira was created in 2004 as a spin-off from Abbott Laboratories. It essentially comprises Abbott’s old Hospital Products division, selling generic injectables, medication delivery systems and infusion products. A major new focus is biosimilars, for which the company has conducted a number of agreements. The firm’s epoetin zeta product, Retacrit, gained EC approval in December 2007, and was launched in early 2008.
Annual sales in 2009 were worth US$3,879.3 million. This was an increase of 6.8% over 2008, when net sales stood at US$3,629.5 million. Net income for 2009 stood at US$403.9 million, a healthy increase of 25.9% over 2008, when net income stood at US$320.9 million.
Hospira is a leading supplier of generic injectables in the USA, with a product range of around 200 generic injectable products. Therapeutic areas include cardiovascular, anaesthesia, anti-infectives, analgesics and emergency. Hospira generally procures the active pharmaceutical ingredients in these products from third-party suppliers.
In September 2006, Hospira announced a friendly US$2 billion takeover of Mayne Pharma, an Australian generic injectable specialist. The deal was completed in February 2007; it cemented Hospira’s leading position in the US and extended its presence into other markets.
In March 2009, Hospira announced Project Fuel, an initiative to improve the company’s margins and fuel its growth. The project aims to optimise the firm’s product line, evaluate non-strategic assets and streamline its organisational structure. As part of this, around 10% of the current workforce will be cut.
In December 2009, Hospira announced an agreement to acquire India-based Orchid Chemicals & Pharmaceuticals' beta-lactam manufacturing facilities and equipment, along with an R&D facility and the firm's generic injectable product portfolio. The acquisition, which cost around US$400 million, was completed in 2010.
Executive Summary
Espicom's generics company reports will help you to understand the dynamic and complex issues affecting the business of leading generic industry players. These informative reports provide an insight into the company, covering the structure of the business, the most recent quarterly and annual financial results, information on the company's active product lines and ANDA approvals, along with a review of major developments, such as M&A activity, strategic alliances, and litigation.
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