Navigation Links
Hospira, Celltrion, Enter Business Cooperation Agreement to Develop and Market Biogeneric Drugs

LAKE FOREST, Ill., Oct. 8 /PRNewswire-FirstCall/ -- Hospira, Inc. (NYSE: HSP), the world leader in generic injectable pharmaceuticals, today signed a Business Cooperation Agreement with South Korea-based Celltrion, Inc. and Celltrion Healthcare, Inc. ("Celltrion"), which outlines the business terms of a future distribution agreement for the United States, Europe, Australia, New Zealand and Canada for eight biogeneric products that are currently under development by Celltrion, five of which are incremental to Hospira's pipeline. Under the distribution agreement, the parties would collaborate on manufacturing and supply of the products. After regulatory approval, Hospira and Celltrion would co-exclusively market the drugs, with the products independently commercialized under each party's brand name.

"Celltrion brings a history of expertise in the manufacturing of protein-based therapeutics," said Christopher B. Begley, chairman and chief executive officer, Hospira. "This partnership gives Hospira access to Celltrion's large biogenerics portfolio, and is an excellent example of Hospira's commitment to organic and inorganic growth. We're excited to work with Celltrion, and we look forward to expanding Hospira's presence in these significant biogenerics markets."

"Hospira is the world leader in generic injectable pharmaceuticals and has the capabilities and experience to successfully sell biogenerics in these important markets," said Jung-Sin Seo, CEO and chairman, Celltrion Healthcare, Inc. and Celltrion, Inc. "We believe this partnership will benefit both companies by combining Hospira's broad outreach with Celltrion's advanced biologic manufacturing capabilities."

Financial details of the agreement were not disclosed. The Business Cooperation Agreement signed today is expected to lead to a final agreement in the coming months.

About Celltrion

Celltrion, Inc. is a leading biopharmaceutical company in Korea specializing in monoclonal antibody capabilities to develop, manufacture and distribute biologics that contribute to human life. Based on its world-class technology in monoclonal antibody manufacturing, Celltrion has entered into strategic collaborations with a number of global pharmaceutical companies. In addition, Celltrion is preparing an initiative involving the newly emerging world mAb biosimilar market with its advanced development technology and state-of-the-art facility, and is currently developing a large portfolio of biosimilars of blockbuster biologics.

About Hospira

Hospira, Inc. is a global specialty pharmaceutical and medication delivery company dedicated to Advancing Wellness(TM). As the world leader in specialty generic injectable pharmaceuticals, Hospira offers one of the broadest portfolios of generic acute-care and oncology injectables, as well as integrated infusion therapy and medication management solutions. Through its products, Hospira helps improve the safety, cost and productivity of patient care. The company is headquartered in Lake Forest, Ill., and has approximately 14,000 employees. Learn more at

                 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 biogenerics and Hospira's goals and strategy. 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, technological 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 filed with the Securities and Exchange Commission, and subsequently filed Forms 10-Q, 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.

SOURCE Hospira, Inc.
Copyright©2009 PR Newswire.
All rights reserved

Related medicine technology :

1. Chris Jensen Medical Center Saves Estimated $600,000 in First Year of Safe Patient Handling
2. AMDL Diagnostics, Inc. Enters Into Exclusive Distribution Agreement With Grifols USA, LLC to Advance Commercialization of DR-70 Onko-Sure(TM) Cancer Test
3. Two Hutchinson Center Scientists Receive a Total of $16.7 Million for Collaborative Stem Cell Research
4. Telik Announces Publication of Positive Phase 1-2a Results of a Multicenter Study of TELCYTA(R) in Combination With Carboplatin and Paclitaxel in Patients With Advanced Non-Small Cell Lung Cancer
5. Sanofi-aventis and Merrimack Pharmaceuticals Enter Into a Worldwide Collaboration and Licensing Agreement on MM-121, an Anti-ErbB3 Monoclonal Antibody
6. Intermountain McKay-Dee Hospital Center Expands Real-Time Locating Solution From Versus Technology, Inc.
7. Caraco Pharmaceutical Laboratories, Ltd. Enters Into Consent Decree with FDA Providing Path to Resume Manufacturing Operations
8. Michigan Life Science and Innovation Center Opens in Former Pfizer Facility
9. The 60th Annual Meeting of the American Association for the Study of Liver Diseases Boston, MA -- Hynes Convention Center October 31 -- November 3, 2009
10. Clinical Logistics Enters Partnership with Gentris Corporation
11. DOR BioPharma Announces NIH Grant Award to Support Phase 1/2 Clinical Trial of DOR201 in Radiation Enteritis
Post Your Comments:
(Date:11/30/2015)... 2015 ) ... Drugs Market 2015-2019" report to their offering. ... addition of the "Orphan Drugs Market 2015-2019" ... Research and Markets ( ) has announced ... 2015-2019" report to their offering. ...
(Date:11/30/2015)... , November 30, 2015 global cell culture ... US$6.1 bn to US$11.3 bn by 2022 at a CAGR of ... expected to grow from its 2013 value of US$6.1 bn to ... --> Transparency Market Research has announced the release of a ... to the report, titled ,Cell Culture Market - Global Industry Analysis, ...
(Date:11/30/2015)... 30, 2015 Nautilus Medical Inc. today announced ... platform ( ). The release of MatrixRay to ... 2015 (Radiology Society North America) in Chicago ... U.S. --> --> ... access to radiology studies worldwide via a peer-to-peer exchange ...
Breaking Medicine Technology:
(Date:11/30/2015)... ... 01, 2015 , ... The National Association of Professional Women (NAPW) ... the Year Circle. She is recognized with this prestigious distinction for leadership in estate ... boasting more than 850,000 members and over 200 operating Local Chapters. , “I’m pleased ...
(Date:11/30/2015)... ... December 01, 2015 , ... ... carrier to offer individual vision insurance plans on . The multi-carrier ... to rate and review products, allowing consumers to compare, quote and match plans ...
(Date:11/30/2015)... (PRWEB) , ... November 30, 2015 , ... ... Foundation (Meso Foundation) released information for caregivers and held two webinars on topics ... available on demand free of charge at . , With a ...
(Date:11/30/2015)... ... November 30, 2015 , ... Thermi™, ... proud to announce that its ThermiRFR temperature controlled radiofrequency platform has received CE ... multi-application radiofrequency platform which uses temperature as a clinical endpoint. The technology ...
(Date:11/30/2015)... (PRWEB) , ... November 30, 2015 , ... ... the driverless vehicle experience this summer, ushering in a new era of publicly ... driverless and electric shuttle, will continue to offer guests an up-close look at ...
Breaking Medicine News(10 mins):