Hospira net rises as sales up 30 percent

LAKE FOREST -- Hospira Inc. on Thursday posted higher quarterly profits as sales rose by nearly 30 percent. The Lake Forest-based company said sales were fueled by the February $2.1 billion purchase of Mayne Pharma. The maker of specialty injectable drugs and medical products said its profits rose 6 percent, to $59 million, on sales of $838 million. The firm predicts 2007 sales will grow 26 to 28 percent.

Black Flag sold, headquarters stays

NORTHBROOK -- One of the longest continually U.S. marketed brands, Black Flag Brands, has been sold to Connecticut-based private equity firm Olympus Partners for an undisclosed amount. With about 20 local employees, the insecticide firm said its headquarters will stay in Northbrook. Its former owner, The Fountainhead Group, wanted to get back to its core lawn products business, Black Flag said.