Healthcare Industry News: infusion therapy
News Release - June 18, 2009
Hospira Receives Favorable Court Decision on Eloxatin(R)Has Tentative FDA Approval and Expects Final Approval Shortly
LAKE FOREST, Ill., June 18 (Healthcare Sales & Marketing Network) -- Hospira, Inc. (NYSE: HSP ), the world leader in generic injectable pharmaceuticals, today announced that the U.S. District Court for the District of New Jersey has granted summary judgment of non-infringement in Hospira's favor with regard to Sanofi Aventis' chemotherapy medication EloxatinŽ, and that Hospira has tentative approval from the U.S. Food and Drug Administration (FDA) for its generic version of the product. Hospira expects full FDA approval shortly.
Hospira's version of Eloxatin, which goes by the generic name oxaliplatin injection, will be one of the first generic versions available in the United States to come in solution form. U.S. sales of Eloxatin last year were approximately $1.4 billion.
"We are extremely pleased with the court's ruling," said Joshua Gordon, vice president, Specialty Pharmaceuticals, Hospira. "The launch of Hospira's oxaliplatin injection will provide a high-quality, lower-cost alternative to patients, and is another example of Hospira working to meet patient and caregiver needs in the fast-growing oncology market."
Hospira's specialty injectable pharmaceuticals (SIP) offering includes approximately 200 generic injectable drugs in many dosages and formulations. In addition, many of its products are available in popular differentiated formats, several of which are proprietary, such as its ADD-Vantage Drug Delivery System and iSecureŽ prefilled syringes. Therapeutic segments include anesthesia, anti-infectives, analgesics, cardiovascular, oncology, emergency and other areas. Hospira has approximately 25 generic drugs scheduled to launch in various regions around the world in 2009 and 2010.
Hospira, Inc. is a global specialty pharmaceutical and medication delivery company dedicated to Advancing Wellness(TM). As the world leader in specialty generic injectable pharmaceuticals, Hospira offers one of the broadest portfolios of generic acute-care and oncology injectables, as well as integrated infusion therapy and medication management solutions. Through its products, Hospira helps improve the safety, cost and productivity of patient care. The company is headquartered in Lake Forest, Ill., and has more than 14,000 employees. Learn more at www.hospira.com.
Private Securities Litigation Reform Act of 1995 --A Caution Concerning Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including projections of certain measures of Hospira's results of operations, projections of certain charges and expenses, and other statements regarding Hospira's goals and strategy. Hospira cautions that these forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those indicated in the forward-looking statements. Economic, competitive, governmental, technological and other factors that may affect Hospira's operations and may cause actual results to be materially different from expectations include the risks, uncertainties and factors discussed under the headings "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in Hospira's latest Annual Report on Form 10-K filed with the Securities and Exchange Commission, which is incorporated by reference. Hospira undertakes no obligation to release publicly any revisions to forward-looking statements as the result of subsequent events or developments.
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