LAKE FOREST, Ill., Sept. 30 /PRNewswire-FirstCall/ -- Hospira, Inc. (NYSE: HSP), a global specialty pharmaceutical and medication delivery company, today announced the acquisition of worldwide rights to a biogeneric version of filgrastim and an affiliated European manufacturing facility from PLIVA Hrvatska d.o.o. (Zagreb, Croatia) (ZSE: PLVA-R-A), a move that will help extend Hospira's reach and vertical integration in biogenerics. Financial terms of the agreement were not disclosed.
As a result of the acquisition, Hospira will now have full global rights to the biogeneric filgrastim that had previously been part of a strategic collaboration between Hospira and PLIVA/Barr, the latter two companies now owned by Teva Pharmaceutical Industries Ltd.
As part of the agreement, Hospira has also acquired process development capabilities and a manufacturing plant in Croatia. The site has capacity sufficient to meet Hospira's worldwide filgrastim and pegfilgrastim requirements, along with expansion possibility for additional biogenerics manufacturing.
"With this agreement, Hospira expands its reach to new markets for filgrastim, and its global manufacturing capacity for pegfilgrastim," said Ron Squarer, senior vice president, Global Marketing and Corporate Development, Hospira. "Hospira is already well-positioned in the biogenerics marketplace, given our internal capabilities, our strategic collaborations and our commercialization experience in Europe. The additional vertical integration this deal brings, as well as the access to broader markets for our products, further demonstrates Hospira's robust commitment to the biogenerics space."
Applications for product approval of filgrastim were filed with the European Medicines Agency (EMEA) and Australia's Therapeutic Goods Administration (TGA) in the first quarter of 2009.
Filgrastim is a granulocyte colony-stimulating factor (G-CSF) used to treat neutropenia, a condition in which the body makes too few infection-fighting white blood cells. The condition is often caused by drugs prescribed for cancer treatment.
Hospira's pegfilgrastim would be a biogeneric version of Amgen's Neulasta,® a second-generation G-CSF also used to treat neutropenia. Hospira intends to launch its biogeneric pegfilgrastim in Europe, Asia and the United States prior to the expiry of patents relating to Neulasta, and is conducting the requisite clinical work to support these regulatory submissions. Hospira also intends to register the Croatian plant and an existing Hospira facility in Australia as global sites of manufacture for pegfilgrastim.
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 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 related to Hospira's biogenerics program, statements related to an intended launch date, and other statements regarding 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 Quarterly Reports on Form 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.|
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