Hospira Reports First-Quarter 20...(in the second half of 2008. 200...),Health

2009 Projections

Hospira continues to expect net sales for the year to increase approximately 4 to 6 percent on a constant-currency basis. Including the impact of foreign exchange, the company expects net sales to be flat.

Given the continued uncertainty surrounding the approval timing of piperacillin tazobactam, a key generic injectable pharmaceutical projected to launch during the year, Hospira has elected to remove sales of the drug from its 2009 projections. Offsetting this impact, the company now expects to receive a benefit from a lower estimated effective tax rate for 2009, as well as anticipated savings from the company's optimization efforts under its Project Fuel initiative. Hospira therefore projects adjusted* diluted earnings per share for full-year 2009 to range between $2.67 to $2.72 per share.

The reconciliation between the projected 2009 adjusted* diluted earnings per share and GAAP diluted earnings per share follows:

       Diluted earnings per share -- adjusted*                  $2.67 - $2.72
                                                                -------------
       Estimated charges related to planned Project
       Fuel initiatives (mid-point range of an estimated
       $0.38 to $0.42 per diluted share for 2009)                      ($0.40)

       Estimated charges related to planned facilities
       initiatives (mid-point of an estimated range of
       $0.10 to $0.12 per diluted share for 2009)                      ($0.11)

       Estimated $53 million for the amortization of
       intangibles related to the Mayne Pharma acquisition             ($0.23)

       Benefit from the settlement of a U.S. income tax audit           $0.57
                                                                -------------
       Diluted earnings per share -- GAAP                       $2.50 - $2.55
              
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SOURCE  Hospira, Inc.
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