- Takes customer-focused measures to streamline and modernize installed
base while enhancing the robustness of device portfolio --
LAKE FOREST, Ill., May 1, 2013 /CNW/ - 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
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
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
Additional information regarding the global device strategy, including
the expected charges of implementation, is included in Hospira's May 1, 2013, Form 8-K filing.
Hospira, Inc. is the world's leading provider of injectable drugs and
infusion technologies. Through its broad, integrated portfolio, Hospira
is uniquely positioned to Advance Wellness™ by improving patient and
caregiver safety while reducing healthcare costs. The company is
headquartered in Lake Forest, Ill., and has approximately 16,000
employees. Learn more at www.hospira.com.
Private Securities Litigation Reform Act of 1995 --
A Caution Concerning Forward-Looking Statements
This press release contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995,
including statements regarding Hospira's goals, plans and strategy
related to Hospira's global devices. Hospira cautions that these
forward-looking statements are subject to risks and uncertainties,
including adequate and sustained progress on the company's quality
initiatives and device strategy that may cause actual results to differ
materially from those indicated in the forward-looking statements.
Economic, competitive, governmental, regulatory, legal, technological,
manufacturing supply, quality, modernizing and streamlining activities,
and other factors that may affect Hospira's operations and may cause
actual results to be materially different from expectations include the
risks, uncertainties and factors discussed under the headings "Risk
Factors" and "Management's Discussion and Analysis of Financial
Condition and Results of Operations" in Hospira's latest Annual Report
on Form 10-K and subsequent Forms 10-Q, 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
Hospira markets and distributes the Sapphire pump through a distribution
agreement with Q Core Medical, Ltd.
SOURCE: Hospira, Inc.
For further information:
Media, Stacey Eisen, (224) 212-2276, or Tareta Adams, (224) 212-2535, or Financial Community, Karen King (224) 212-2711, or Ruth Venning, (224) 212-2774
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