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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 4, 2015
08:26 EDTHSPMorgan Stanley to hold a conference
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April 28, 2015
07:33 EDTHSPHospira will not provide annual projections given merger agreement with Pfizer
07:33 EDTHSPHospira expects merger agreement with Pfizer to be completed in 2H15
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07:32 EDTHSPHospira reports Q1 adjusted EPS 97c, consensus 53c
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April 27, 2015
14:41 EDTHSPEarnings Watch: Pfizer up over 6% since its last earnings report
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April 24, 2015
05:43 EDTHSPHospira announces new white paper extrapolation
Hospira announced the publication of a pivotal white paper titled, "Why extrapolation is paramount to achieving the full promise of biosimilars." The white paper highlights the significance of extrapolation in the development of a successful and sustainable biosimilars market. Real-world cost savings and increased patient access to life-saving medicines can be achieved by conducting only scientifically necessary clinical trials, it states, while also calling for more regulatory agencies to adopt the principle of extrapolation. In the white paper, Ramachandra notes that the scientific principle for extrapolation has already been adopted by the European Medicines Agency, or EMA, and that the European Commission, or EC, has approved 21 biosimilar medicines in Europe, including the first biosimilar monoclonal antibody, Inflectra, in September 2013. In addition, the FDA utilized extrapolation to approve the first biosimilar in the United States, biosimilar filgrastim, last month for all the therapeutic indications of the reference product that were available at that time.
April 20, 2015
07:02 EDTHSPEagle Pharmaceuticals price target raised to $75 from $55 at Piper Jaffray
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