Hospira Inc. (HSP) announced it expects to launch a solution
form of gemcitabine in September, becoming the first company to
offer an injectable form of the oncology medication in the U.S.
Shares of the medical-device and injectable-drug maker jumped 3%
to $48.48 in recent trading as the company announced the product
received approval by the U.S. Food and Drug Administration.
"Hospira's generic gemcitabine solution gives the medical
community access to a lower-cost, more convenient offering of this
key oncology drug," said Thomas Moore, U.S. president of
Hospira.
The gemcitabine injection is designed to improve pharmacist
convenience and handling safety as it eliminates the need for
reconstitution, Hospira said. The company said the injectable
version will have the same concentration of the available
"freeze-dried" form, which it already offers.
In a conference call with analysts last month, Chief Executive
F. Michael Ball said Hospira had over 15% market share with the
company's gemcitabine powder product, despite the market entry of
some competitors at the end of Hospira's exclusivity period in May.
With the FDA approval of the solution form, Hospira now has a full
portfolio of the product.
Last month, Hospira reported its second-quarter earnings soared
72%, driven by strong sales in the specialty injectable
pharmaceuticals group.
-By Nathalie Tadena, Dow Jones Newswires; 212-416-3287;
nathalie.tadena@dowjones.com