Hospira reports 4Q sales increased 2.2 percent

PRNewswire

LAKE FOREST — Hospira, Inc. reported net sales for the fourth quarter of 2011 were $1 billion, up 2.2 percent from the same period last year.

The company said strong net sales of the oncolytic docetaxel in the United States, as well as several other specialty injectable pharmaceutical products, contributed to the increase. Company officials did note that issues with quality controls at the company Rocky Mount, N.C. plant partially offset overall growth.

For the year 2011, Hospira reported net sales increased 3.1 percent to $4.1 billion,

“While 2011 was a challenging year as a result of our quality transformation efforts, we met our revised financial expectations, generating over $4 billion in sales, and advanced our remediation efforts,” said F. Michael Ball, chief executive officer. “We made significant progress on many fronts during the year, including the launch in the United States of two important oncolytic products and an anti-infective drug,

“We remain firmly committed to reinforcing our foundation and instilling a culture of high quality throughout the organization, actions we believe will create a strong competitive advantage for Hospira and position us for sustainable, long-term growth and increased shareholder value,” Ball added.

Adjusted income from operations decreased 21.8 percent in the fourth quarter to $111 million, compared to $142 million in the fourth quarter of 2010. The decrease primarily reflects the impact of charges and costs associated with certain quality actions and inventory losses, the company said.