Hospira Boosts Outlook Citing Performance

NEW YORK (AP) — Hospira Inc., which makes drug delivery systems and devices, boosted its 2009 profit outlook Thursday citing sales growth and its performance throughout the year.

The company now expects profit between $2.80 and $2.85 per share, up from prior guidance between $2.70 and $2.75 per share.

The company also now expects a 5 percent to 7 percent increase in global revenue, up from prior expectations of a 4 percent to 6 percent boost. The new range implies revenue of $3.81 billion to $3.88 billion based on 2008 revenue of $3.63 billion.

Analysts polled by Thomson Reuters expect 2009 profit of about $2.77 per share on revenue of $3.69 billion.

Shares of Lake Forest, Ill.-based Hospira rose $1.42, or 3.4 percent, to close the regular session at $43.60. The stock has traded between $21.21 and $44.72 over the last 52 weeks.