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Financial Report: Hospira 3Q11

Results impacted by quality issues

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By: Tim Wright

Editor-in-Chief, Contract Pharma

Hospira 3Q11

3Q Revenues: $977 million (+3%)

3Q Loss: $88.9 million (earnings were $71.4 million in 3Q10)

YTD Revenues: $3.0 billion (+4%)

YTD Earnings: $204.6 million (-31%)

Comments: Specialty Injectable Pharmaceuticals revenue was up 12% to $626.8 million in the quarter. Medication Management sales were $240.6 million (-5%). Other Pharma accounted for $109.3 million (-21%). Results in the quarter and YTD were impacted by certain quality actions taken in response to a FDA 2010 warning letter and subsequent observations related to the company’s manufacturing facility in Rocky Mount, NC, and device quality and supply-related issues.

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