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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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September 3, 2015
09:01 EDTHSPPfizer completes acquisition of Hospira
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August 28, 2015
16:17 EDTHSPOn The Fly: Top stock stories for Friday
Stocks slipped at the open as the futures once again were influenced by the volatile overnight trading session in China. The averages began to recover shortly after the open and turned mixed by midday. Comments from Fed Vice Chairman Stanley Fisher about the central bank being open to a possible rate hike in September took some momentum out of the market. As the volume slowed and the news flow went silent, the volatility increased and the averages headed lower only to rebound before the close, but the trading was still remarkably calm when compared to the wide swings seen in the market in the earlier sessions of this week. ECONOMIC EVENTS: In the U.S., personal income rose 0.4% in July, as expected, with consumer spending up 0.3%, which was below the 0.4% consensus growth forecast. The University of Michigan consumer sentiment reading for August was revised down to 91.9 from the 92.9 preliminary reading, versus expectations for it to be bumped up to 93.0. Baker Hughes reported the U.S. rig count is down 8 rigs from last week to 877. WTI crude oil prices added another 6% today to yesterday's 10% rally, closing at $45.22 a barrel on Friday. U.S. crude closed with a weekly gain of 11.8%, marking its first advance in 10 weeks and best week in six years. The Federal Reserve may still raise its benchmark interest rate in September, Fed vice chairman Stanley Fischer said in an interview with CNBC, noting that Fed committee members "haven't made a decision yet" and have "time to wait and see," because the next policy-making meeting won't happen until the middle of next month. COMPANY NEWS: Shares of cancer drug maker ARIAD (ARIA) surged $2.91, or 41.69%, to $9.89 after Bloomberg reported that industry peer Baxalta (BXLT) is in takeover talks with the smaller company to boost its oncology pipeline. Baxalta, which had recently turned down a merger offer from Shire (SHPG), fell $1.18, or 3.24%, to $35.25 following the report... In other pharmaceutical industry M&A news, Mylan (MYL) shareholders voted to approve the company's proposed acquisition of Perrigo (PRGO) and the related issuance of Mylan ordinary shares. Afterward, Perrigo CEO Joseph Papa said he was confident that most of his company's shareholders believe that Mylan's offer substantially undervalues Perrigo and would dilute its "growth profile and superior valuation"... Video game maker Activision Blizzard (ATVI) and airline owner United Continental (UAL) both advanced sharply, rising 4.62% and 6.93%, respectively, after each had their shares selected to join the S&P 500. Activision will replace Pall Corp. (PLL) in the S&P 500 after the close of trading tonight, while United will replace Hospira (HSP) in the index after the close of trading on Wednesday, September 2. MAJOR MOVERS: Among the notable gainers was Big Lots (BIG), which advanced $6.58, or 15.67%, to $48.58 after the discount retailer reported better than expected quarterly results and lifted its fiscal year guidance. Among the noteworthy losers after their quarterly reports were video game retailer GameStop (GME), which slid $3.71, or 8.03%, to $42.49, and design software and services company Autodesk (ADSK), which fell $2.48, or 4.96%, to $47.52. INDEXES: The Dow fell 11.76, or 0.07%, to 16,643.01, the Nasdaq gained 15.62, or 0.32%, to 4,828.33, and the S&P 500 advanced 1.21, or 0.06%, to 1,988.87.
12:50 EDTHSPOn The Fly: Top stock stories at midday
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August 27, 2015
17:38 EDTHSPS&P announces changes to S&P 500 index
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17:18 EDTHSPUnited Continental to replace Hospira in S&P 500 as of 9/2 close
06:55 EDTHSPHospira sees merger closing on or about September 3
Hospira (HSP) said in a regulatory filing that on August 21, Hospira and Pfizer (PFE) received clearance from the U.S. FTC, relating to the pending merger of Hospira with Perkins Holding Company, a wholly-owned subsidiary of Pfizer. All required regulatory approvals have now been secured, though the merger remains conditioned upon the expiration of a post-clearance waiting period in one foreign jurisdiction. Hospira expects the merger to close on or about September 3.
August 25, 2015
09:26 EDTHSPHospira, Cerner expand IV-EMR integration agreement
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August 24, 2015
12:57 EDTHSPFTC requires Pfizer to sell rights to four products as condition of buying Hospira
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08:01 EDTHSPPfizer receives clearance from FTC for Hospira acquisition
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August 20, 2015
05:26 EDTHSPHospira announces approval of Inflectra in Australia
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