Hospira reports “substantial progress”

Hospira, the pharmacy product supplier to markets around the world, has reported what it describes as “substantial progress” during the second quarter of this year.

The company maintains that during the three months prior to the end of June it was able to enhance its presence as a supplier of speciality injectable products and as a developer of medication management systems.

Sales of Hospira’s drugs around the world were worth a total of close to £450 million in the second quarter of this year, which represents an increase of 3.7 per cent on the previous three-month period.

As a result the firm has increased the expectations for its overall performance for the current financial year.

“The market-share gains we are capturing in both specialty injectable pharmaceuticals and medication management systems point to the value of our focus on strategic execution,” said Christopher Begley, chairman and chief executive of Hospira.

Hospira recently appointed Dr Sumant Ramachandra as its new chief scientific officer and the leader of its research and development efforts.