Hospira Announces Agreement on Oxaliplatin Patent Challenge
LAKE FOREST, Ill., April 1 /PRNewswire-FirstCall/ -- Hospira, Inc. (NYSE: HSP), the world leader in generic injectable pharmaceuticals, today announced it has reached a legal settlement with Sanofi-Aventis to resolve patent litigation concerning Hospira's U.S. sales of its oxaliplatin injection, a generic version of Sanofi-Aventis' oncolytic agent, Eloxatin®. Under the settlement terms, Hospira will stop selling oxaliplatin injection in the United States by June 30, 2010, and can relaunch the product in the United States on Aug. 9, 2012. The settlement will not affect Hospira's financial guidance for 2010.
Hospira launched oxaliplatin injection in August 2009 following a favorable ruling in the patent litigation with Sanofi-Aventis. That decision was later vacated by the appellate court. By settling the litigation, Hospira will secure the right to relaunch its oxaliplatin products more than a year in advance of the expiration of the patent at issue.
Oxaliplatin injection, used in combination with infusional 5-fluorouracil/leucovorin, is indicated for adjuvant treatment of Stage III colon cancer in patients who have undergone complete resection of the primary tumor, and in the treatment of advanced colorectal cancer.
Hospira's specialty injectable pharmaceuticals (SIP) offering includes approximately 200 generic injectable drugs in many dosages and formulations. In addition, many of its products are available in popular differentiated formats, several of which are proprietary, such as its ADD-Vantage® drug delivery system and iSecure® prefilled syringes. Therapeutic segments include analgesia, anesthesia, anti-infectives, cardiovascular, oncology, emergency and other areas. Hospira also has robust pipelines of both generic and biogeneric drugs.
Hospira, Inc. is a global specialty pharmaceutical and medication delivery company dedicated to Advancing Wellness™. 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 13,500 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 regarding Hospira's legal settlement and 2010 guidance. 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, legal, 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, which is 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.