-- Takes customer-focused measures to streamline and modernize
installed base while enhancing the robustness of device portfolio
--
LAKE FOREST, Illinois,
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."
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.
About Hospira
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 developments.
(1) Hospira markets and distributes the Sapphire pump through a
distribution agreement with Q Core Medical, Ltd.