Hospira Inc. (HSP) revised its first-quarter sales forecast, as
it expects to book Docetaxel sales sooner than expected.
The company said first-quarter sales should fall 5% to 6% from
the fourth quarter instead of a 10% decline as originally
expected.
The medical device and injectable-drug maker obtained Food and
Drug Administration approval of Docetaxel, a generic version of the
Sanofi-Aventis SA (SNY, SAN.FR) cancer drug Taxotere two weeks
ago.
Hospira had said it would launch Docetaxel in Canada early in
the second quarter after Canadian regulators also approved the
single-vial injectable Docetaxel earlier this month.
The company now expects a significant portion of second-quarter
sales and profit from Docetaxel to be accelerated into the first
quarter. The company's full-year guidance is unchanged.
Hospira has said Docetaxel can be administered in one step,
rather than the two steps required for the original
formulation.
Shares were trading up 1.5% at $53.63, and the stock is off 5.9%
in the past 12 months.
-By Melodie Warner, Dow Jones Newswires; 212-416-2283; melodie.warner@dowjones.com