Hospira, Inc. Announces U.S. Re-Launch of Generic Oxaliplatin Injection
LAKE FOREST, Ill., Aug. 9, 2012 /PRNewswire/ -- Hospira, Inc. (NYSE: HSP), the world's leading provider of injectable drugs and infusion technologies, announced today the U.S. re-launch of oxaliplatin injection, Hospira's generic version of Sanofi's chemotherapy medication Eloxatin®. Sales of Eloxatin last year in the United States were approximately $1.5 billion.
"We're excited to once again be able to provide this critical oncology drug to our patients and customers," said Joshua Gordon, vice president, Specialty Pharmaceuticals, Hospira. "Hospira is committed to bringing safe, lower-cost generic versions of important medications to the market as soon as possible, and in this case we're able to do so a year ahead of patent expiration for the originator product, which will contribute to much-needed cost savings for our customers."
Hospira originally launched oxaliplatin injection in August 2009 following a favorable ruling in patent litigation with Sanofi. Hospira settled the litigation with Sanofi in 2010 under an agreement which called for the eventual suspension of Hospira's sales at the end of June 2010, with the right to re-launch the product well in advance of patent expiry.
Oxaliplatin injection is a widely used oncology agent typically used to help treat colon and colorectal cancer. Hospira will initially offer oxaliplatin injection in 50 mg and 100 mg single-use vials. Hospira's oxaliplatin is a solution form of the product.
Hospira is the global market leader for generic injectable pharmaceuticals. The company's Specialty Injectable Pharmaceuticals (SIP)portfolio, one of the world's broadest, includes approximately 200 generic injectable drugs. Many are available in popular differentiated formats, several of which are proprietary to Hospira, such as ADD-Vantage medication mixing system and iSecure pre-filled syringes. Hospira's therapeutic areas include analgesia, anesthesia, anti-infectives, cardiovascular, oncology and other areas. Hospira's SIP portfolio also includes several in-licensed products, such as Precedex (dexmedetomidine HCl), a proprietary sedation agent.
About Hospira
Hospira, Inc. is the world's leading provider of injectable drugs and infusion technologies. Through its broad, integrated portfolio, Hospira is uniquely positioned to Advance Wellness by improving patient and caregiver safety while reducing healthcare costs. The company is headquartered in Lake Forest, Ill., and has approximately 15,000 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 statements regarding the growth opportunities for generic specialty injectable products. 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, legal, regulatory, technological, manufacturing supply, quality 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 and Forms 10-Q filed with the Securities and Exchange Commission, which are incorporated by reference. Hospira undertakes no obligation to release publicly any revisions to forward-looking statements as the result of subsequent events or developments.
SOURCE Hospira, Inc.