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Hospira Unveils Global Device Strategy

Stocks in this article: HSP

LAKE FOREST, Ill., May 1, 2013 /PRNewswire/ -- Hospira, Inc. (NYSE: HSP), the world's leading provider of injectable drugs and infusion technologies, today unveiled details of its global device strategy. The initiative establishes a streamlined and modernized device portfolio to address customer needs and position the company for future innovation and growth, while supporting continued advancement of device remediation, including device quality improvement efforts.

"Given the ever-expanding focus in healthcare on improving patient safety and clinical outcomes, we see our device business as a major strategic growth driver for Hospira and are committed to sustaining our leadership position through current and future investments," said Richard Davies, chief commercial officer, Hospira. "With a streamlined and modernized portfolio, we will reduce complexity, improve performance and be better positioned to meet the expectations of customers and regulatory agencies today, while developing tomorrow's next-generation technologies."

Hospira's new device strategy builds on the company's recently completed comprehensive device review of its global installed base of more than 575,000 infusion pumps. The company communicated the new strategy to the U.S. Food and Drug Administration (FDA) and other global regulatory agencies, and is working with these agencies to gain alignment.

Actions will include investments in retirement and replacement programs, future product releases and quality systems:

  • Retirement and replacement programs : Focus the company's efforts by retiring less robust and/or older pump technology from the market and initiating customer replacement programs. The majority of the activity will occur during the next two to three years and include:
    • retirement of the Symbiq™ infusion device and older legacy Plum™ pumps, replacing these devices with Plum A+ pumps and future innovations to the Plum platform currently under an advanced stage of development;
    • retirement of GemStar™ ambulatory pumps, replacing these devices with Sapphire™ pumps in markets where the device is available -- such as Canada and certain countries in Europe -- and in the United States and other markets upon regulatory clearance; 1 and
    • retirement of older legacy PCA pumps, replacing these devices with LifeCare PCA™ or Sapphire pumps.

Hospira will continue to support the affected pumps during the retirement and replacement period.  

  • Future technology : Focus on investment in and development of next-generation pump technology while furthering the company's position as the leading provider of I.V. clinical integration technology, which integrates infusion systems with electronic health records (EHRs).
  • Quality systems : Invest in actions to strengthen Hospira's global device quality systems and promote continuous improvement to better meet evolving regulatory standards.

Added Mr. Davies, "Hospira is acutely aware of the importance of our devices globally to the patients we serve, and we will work closely with our customers to ensure a seamless transition throughout this process."

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