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Hospira, Inc. (HSP) Resumes Production at Key Plant



8/2/2012 7:17:26 AM

Hospira Inc said it has resumed production of injectable drugs at its Rocky Mount, North Carolina, plant, where numerous problems have led to shortages of anesthesia and other drugs. Its shares rallied more than 7 percent on Tuesday after the Lake Forest, Illinois-based company indicated that the long-standing issues that have hurt the shares were being resolved. "They appear to have a handle on Rocky Mount ... production has resumed and products are being re-released," said Barclays analyst Matt Taylor. He said a lot of investors were shorting the stock going into its earnings release and were forced to cover their positions as the stock moved higher, fueling the rally.

Read at Reuters


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