Chemotherapy Drug Sales Boost Hospira 3Q Profit

LAKE FOREST, Ill. (AP) — Hospira Inc. said Tuesday its profit jumped 42 percent in the third quarter due to rising sales of specialty drugs, primarily a generic chemotherapy treatment.

The drug and medication delivery system maker said its net income grew to $116.2 million, or 71 cents per share, from $81.8 million, or 51 cents per share, a year earlier. Excluding one-time items, Hospira said it earned 90 cents per share. Analysts polled by Thomson Reuters forecast earnings per share of 69 cents, on average.

Revenue rose 9 percent, to $1.01 billion from $925.5 million. Analysts had expected $936.2 million.

Hospira said sales of specialty drugs — or drugs that require special handling — climbed 24 percent to $575.7 million. That was partly due to sales of a generic version of the chemotherapy drug oxaliplatin, which was launched during the quarter.

Oxaliplatin is a generic version of Sanofi-Aventis' drug Eloxatin.

Hospira said sales of non-specialty drugs fell 10 percent to $157.4 million. Medication management delivery system revenue was unchanged at $162.6 million, and other device revenue fell 8 percent to $111.8 million.