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Stock Market & Financial Investment News

News Breaks
June 6, 2014
14:32 EDTHSPHospira issues statement on paclitaxel supply and pricing
The company said, "Given recent misinformation, we at Hospira Canada feel it is very important to clarify and provide further context regarding the Canadian supply and pricing of paclitaxel a life-saving cancer medication. Most importantly, through Hospira's efforts, and working closely with Health Canada, a severe oncology treatment crisis was avoided, resulting in no patient disruption of a key oncolytic therapy. Contrary to media reports, Hospira did not increase our price for paclitaxel. In fact, Hospira offered a 75 percent discount off our list price of paclitaxel to Canadian purchasing groups that previously purchased the drug from another supplier that is not currently able to supply the market. The price referenced in media coverage is the list price for paclitaxel. Because we recognize the importance of paclitaxel, we offered this deep discount well before the issue became public by directly engaging each affected purchasing group in May, along with a firm commitment to apply the discount retroactively. We're hoping to quickly finalize agreements with the key purchasing groups that supply Canadian hospitals so they can obtain the discounted price and not pay the list price. It is expensive and complicated to meet this large, unexpected and sudden increase in demand. As well as offering the 75 percent discount, we have taken the following actions to ensure a smooth supply: We have increased local inventory levels across our portfolio to meet spikes in demand when shortages arise; We have expedited delivery to Canada ahead of other markets, while balancing the needs of our global patient base; We have worked with customers across the country to allocate inventories from institutions that had higher levels of inventory to where needs were critically necessary; We have made corporate investments exceeding $1 billion in recent years to expand production to provide a reliable supply of medically necessary products and prevent drug shortages, as we have been able to do with paclitaxel in Canada. Hospira has built a strong record in Canada, specifically in Montreal, with roots that date back to 1927, employing nearly 200 skilled and highly-trained individuals. We are proud to build on this heritage by quickly mobilizing our operations to provide life-saving cancer treatments to all Canadian patients who require them."
News For HSP From The Last 14 Days
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May 20, 2015
09:52 EDTHSPAlliance for Health Reform holds a webcast on biosimilars
"Biosimilars in the U.S.: Current & Emerging Issues" provides essential background on the U.S. and international markets for reference biologics and biosimilars, outline current policy and regulatory issues, and describe implications for the future. Speakers include Chief Scientific Officer Ramachandra from Hospira, Executive Director Eich from Amgen on the briefing being held on May 20 at 12 pm. Webcast Link
May 14, 2015
12:29 EDTHSPPfizer receives 'second request' from FTC regarding potential Hospira merger
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May 13, 2015
19:17 EDTHSPHospira and FDA detect security vulnerabilities in infusion pumps
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13:43 EDTHSPHospira shareholders approve merger with Pfizer
Hospira (HSP) announced that Hospira shareholders voted in favor of the proposal to adopt the merger agreement with Pfizer (PFE) at a special meeting of stockholders held May 13 in Denver, Colorado. On February 5, Hospira and Pfizer announced they had entered into a merger agreement under which Pfizer will acquire Hospira for $90 per share in cash for a total enterprise value of approximately $17B. The merger is subject to customary closing conditions, one of which was approval of the merger by Hospira's shareholders. Additional closing conditions to be met include obtaining regulatory approvals in several jurisdictions. Hospira and Pfizer continue to expect the merger to close in the second half of 2015.

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