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Financial Report: Hospira

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By: Tim Wright

Editor-in-Chief, Contract Pharma

Hospira

4Q Revenues: $946.1 million (+34%)

4Q Earnings:  $76.1 million (+61%)

FY Revenues: $3.4 billion (+28%)

FY Earnings: $136.8 million (-43%)

Comments: Sales in the quarter and FY excluding Mayne Pharma sales grew 8% and 4%, respectively. Injectable pharmaceutical contract manufacturing revenues dropped 14% to $37.4 million in 4Q07 and 19% to $149 million for FY07. R&D expenses in 4Q were down 2% to $53.8 million and acquired in-process R&D expenses were $3.2 million, down 68%. Results include assets amortization of $12.5 million related to the Mayne Pharma acquisition; charges of $4.1 million related to the closures of the Donegal, Ireland; Ashland, OH; Montreal, Canada; and North Chicago, IL facilities (part of Hospira’s manufacturing optimization initiatives); Mayne Pharma integration charges of $927 million; and $7.5 million related to the impairment of the intangible asset for brain-function monitoring devices.

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