Lake Forest-based pharmaceutical company Hospira Inc. said strong domestic demand for its products led to a 1.4 percent oncrease in net sales for the third quarter of 2013.
Net sales were $1 billion for the quarter, an increase of 1.4 percent compared to the third quarter of 2012. Continued strong global sales of Precedex and other specialty injectable pharmaceuticals products in the United States more than offset the impact of pricing erosion of certain newer U.S. SIP products and lower device sales, the company said in a release.
"The third quarter was one of continued progress in several areas," said F. Michael Ball, Hospira chief executive officer. "We were especially pleased to receive European approval in the quarter of our biosimilar infliximab, Inflectra -- the first monoclonal antibody biosimilar to be approved in Europe.
"We are also seeing continued demand for the new pre-mix versions of our branded sedation agent, Precedex," he added. "At the same time, we have made meaningful advances in both our supply recovery efforts and quality-improvement initiatives. We believe our progress across these fronts is positioning Hospira for a stronger, more competitive future, which we believe will provide sustainable, long-term growth and value to our shareholders."
Adjusted income from operations increased 8.3 percent to $122 million in the third quarter of 2013, compared to $113 million in the third quarter of 2012. The increase reflects favorable product mix compared to the third quarter of 2012 and supply recovery in the U.S., which more than offset a year-over-year increase in selling, General and administration expense, the company said.
Hospira continues to project the year-over-year change to 2013 adjusted net sales to be negative 1 percent to positive 1 percent, on a constant-currency basis.