LAKE FOREST, Ill., June 2 /PRNewswire-FirstCall/ -- Hospira, Inc. announced today that it has acquired from Fresenius Kabi its manufacturing facility in Clayton, N.C. The acquisition includes a 100,000 square-foot facility and equipment, the pharmaceutical development at this location, and employees associated with the operation.
The transaction will provide Hospira with additional manufacturing capabilities to meet the industry demand for pharmaceutical injectables and intravenous solutions. It will also accommodate growth of One 2 One(TM), Hospira's injectable pharmaceutical outsourcing business. With roughly two decades of experience in emulsion manufacturing technology and nutritional solutions production, the Clayton employees and facility complement Hospira's existing manufacturing strengths.
"This purchase is an excellent fit with Hospira's strategy to expand our manufacturing capacity and support future growth of our contract manufacturing business," said Christopher B. Begley, chief executive officer, Hospira. "We welcome our new colleagues to the Hospira family and look forward to leveraging their manufacturing knowledge to meet the evolving needs of our hospital customers."
The transaction will not impact the results of Hospira's 2004 ongoing operations. No additional financial details were disclosed.
About Hospira
Hospira, Inc. is a global specialty pharmaceutical and medication delivery company dedicated to Advancing Wellness(TM) by developing, manufacturing and marketing products that help improve the safety and efficacy of patient care. Created from the core global hospital products business of Abbott Laboratories, Hospira is a new company with 70 years of service to the hospital industry. The company's portfolio includes one of the industry's broadest lines of generic acute-care injectables, integrated solutions for medication management and infusion therapy, and a full-service contract manufacturing business. Headquartered in Lake Forest, Ill., north of Chicago, Hospira has more than 14,000 employees and 15 manufacturing facilities worldwide, including the Clayton, N.C., location.
Hospira's news releases and other information are available on the company's Web site at http://www.hospira.com/ .
Private Securities Litigation Reform Act of 1995 - A Caution Concerning Forward-Looking Statements
Some statements in this news release may be forward-looking statements for purposes of the Private Securities Litigation Reform Act of 1995. 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 risk and uncertainties set forth in the information statement under the heading "Risk Factors" in the most recent version of the Form 10 filed with the Securities and Exchange Commission, 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 development.
Hospira, Inc.CONTACT: Media, Shannon Gore, +1-224-212-2003, or Financial Community,Lynn McHugh, +1-224-212-2363, both of Hospira, Inc.
Web site: http://www.hospira.com/
