Hospira Announces Expiration of Hart-Scott-Rodino Review Period for Acquisition of Orchid's Generic Injectable Pharmaceuticals B
10 Fevereiro 2010 - 12:57PM
PR Newswire (US)
-- Anticipates Closing the Transaction in March -- LAKE FOREST,
Ill., Feb. 10 /PRNewswire-FirstCall/ -- Hospira, Inc., (NYSE: HSP),
the world leader in generic injectable pharmaceuticals, and Orchid
Chemicals & Pharmaceuticals Ltd.
(BSE:524372BSE:NSE:BSE:ORCHIDCHEM), a leading Indian
pharmaceuticals company, today announced that the Hart-Scott-Rodino
(HSR) review period for Hospira's proposed acquisition of Orchid's
generic injectable pharmaceuticals business has expired with no
action by the Federal Trade Commission (FTC). The expiration of the
HSR review period satisfies one of the conditions necessary for the
transaction to close. Hospira and Orchid expect that, subject to
the remaining customary closing conditions, the transaction will be
completed in March. "We're pleased to move closer to adding
Orchid's proven-quality, cost-competitive generic injectables
business to Hospira's product portfolio and geographic footprint,"
said Christopher B. Begley, chairman and chief executive officer,
Hospira. "Orchid's capabilities provide a platform for future
commercial growth, and we look forward to welcoming our new
employees, whose talents and skill sets will contribute to
Hospira's success." "We are happy to be approaching the closure of
this transaction, which further fortifies Orchid's business model
with long-term revenue streams through an exclusive agreement to
supply active pharmaceutical ingredients (API) to Hospira," said Mr
K Raghavendra Rao, managing director, Orchid Chemicals &
Pharmaceuticals Ltd. "With significant de-leveraging of our balance
sheet, Orchid would pursue new growth opportunities and build on
the innovative and niche profile of its product range going
forward." About Hospira Hospira, Inc. is a global specialty
pharmaceutical and medication delivery company dedicated to
Advancing Wellness(TM). As the world leader in specialty generic
injectable pharmaceuticals, Hospira offers one of the broadest
portfolios of generic acute-care and oncology injectables, as well
as integrated infusion therapy and medication management solutions.
Through its products, Hospira helps improve the safety, cost and
productivity of patient care. The company is headquartered in Lake
Forest, Ill., and has approximately 13,500 employees. Learn more at
http://www.hospira.com/. About Orchid Orchid Chemicals &
Pharmaceuticals Ltd. is a leading pharmaceutical company
headquartered in Chennai, India, involved in the development,
manufacture and marketing of diverse bulk actives, formulations and
nutraceuticals. With exports spanning more than 75 countries,
Orchid is the largest manufacturer-exporter of cephalosporin bulk
actives in India and is ranked amongst the Top 5-cephalosporin
producers in the world. Orchid's world-class manufacturing
infrastructure includes multiple USFDA compliant API and dosage
form facilities at Chennai and Aurangabad in India. Orchid has
dedicated state-of-the-art GLP compliant R&D centres for API
research, drug discovery and pharmaceutical research at Chennai,
India. Orchid has ISO 9001:2000, ISO 14001 and OHSAS 18001
certifications. Orchid is listed on the National Stock Exchange
(NSE), Bombay Stock Exchange (BSE) and the Madras Stock Exchange
(MSE) in India. Additional information is available at the
company's website at http://www.orchidpharma.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. Hospira cautions that
these forward-looking statements are subject to risks and
uncertainties that may cause actual results to differ materially
from those indicated in the forward-looking statements. Economic,
competitive, governmental, legal, technological 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 Hospira's subsequent Quarterly Reports on
Form 10-Q, which are filed with the Securities and Exchange
Commission, and incorporated by reference. Hospira undertakes no
obligation to release publicly any revisions to forward-looking
statements as the result of subsequent events or developments.
Orchid Safe Harbour This media release includes forward-looking
statements and indications, which are based on current expectations
and forecasts about future events. Such statements and indications
involve known and unknown risks, uncertainties and other factors
and may cause actual results to materially differ. Such factors
include, but are not limited to, changes in local and global
economic conditions, Orchid's ability to successfully implement
strategies, the market acceptance and demand of Orchid's products
and services, Orchid's growth rates, expansion, technological
change and Orchid's exposure to market risks. By their nature,
these statements and indications are only estimates and actual
results could differ from these in the future.
http://www.newscom.com/cgi-bin/prnh/20040503/HSPLOGO
http://photoarchive.ap.org/ DATASOURCE: Hospira, Inc. CONTACT:
Media, Dan Rosenberg, +1-224-212-3366, or Financial Community,
Karen King, +1-224-212-2711, both of Hospira, Inc.; or Ch. Ram,
Corporate Communications & Investor Relations of Orchid,
91-44-28244908, Web Site: http://www.orchidpharma.com/
http://www.hospira.com/
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