Hospira

Last updated
Hospira
Type Subsidiary
NYSE: HSP
FoundedMay 3, 2004 (spun off from Abbott Laboratories)
Headquarters Lake Forest, Illinois, United States
Key people
F. Michael (Mike) Ball (CEO); John C. Staley, Chairman of the Board of Directors
ProductsGeneric acute-care and oncology injectables, integrated infusion therapy, medication management systems
Revenue$4.5 billion (2014)
Number of employees
Approximately 19,000
Parent Pfizer
Website www.pfizerhospitalus.com

Hospira was an American global pharmaceutical and medical device company with headquarters in Lake Forest, Illinois. It had approximately 19,000 employees. [1] Before its acquisition by Pfizer, Hospira was the world's largest producer of generic injectable pharmaceuticals, [2] manufacturing generic acute-care and oncology injectables, as well as integrated infusion therapy and medication management systems. Hospira's products are used by hospitals and alternate site providers, such as clinics, home healthcare providers and long-term care facilities. [3] It was formerly the hospital products division of Abbott Laboratories. On September 3, 2015, Hospira was acquired by Pfizer, who subsequently sold off the medical devices portion of Hospira to ICU Medical.

Contents

Worldwide sales in 2014 were approximately $4.5 billion. [4] Current results are now part of Pfizer's consolidated statements.

History

Hospira corporate headquarters in Lake Forest, Illinois Hospira headquarters.JPG
Hospira corporate headquarters in Lake Forest, Illinois

In January 2004, Abbott announced it was spinning off its hospital products division. [5]

Hospira's name was picked by employee vote. The name is derived from the words "hospital," "spirit," "inspire," and spero, a Latin word meaning "hope." [3] [ dead link ] Hospira became an independent company on May 3, 2004, with 14,000 employees, 14 manufacturing sites and an estimated $2.5 billion in annual sales. [6]

In 2007, Hospira purchased Mayne Pharma Ltd., an Australian-based specialty injectable pharmaceuticals company, for $2.1 billion. [7]

In 2009, Hospira acquired the biotechnology business from Pliva-Croatia, the generic injectable pharmaceuticals business of Orchid Chemicals & Pharmaceuticals Ltd., a leading Indian pharmaceuticals company, for approximately $400 million, [8] and TheraDoc, a clinical informatics company that develops hospital surveillance systems, in 2009. [9] In 2010, Hospira acquired Javelin Pharmaceuticals, Inc., maker of post-operative pain management drug Dyloject, for approximately $145 million. [10]

In 2011, Hospira's board chose Mike Ball, formerly president of Allergan, as Hospira's new CEO. Ball became CEO in March 2011. [11] Hospira named John Staley its non-executive chairman with the retirement of former executive chairman Christopher Begley in January 2012. Begley had announced his retirement as Hospira's chief executive in August 2010, but had remained as executive chairman. [12]

In 2015, Pfizer signed an agreement to acquire Hospira. [13] The roughly $17 billion acquisition was completed in September, 2015. [14] A year later Pfizer sold the medical devices portion of Hospira to ICU Medical for roughly $900 million in cash, stock, and other consideration. [15] [16] [17]

In 2020 through 2022, Pfizer used Hospira, Inc. as a trade name in reference to the subsidiary's involvement in as a supplier of 0.9% Sodium chloride Injection USP diluent for use with the Pfizer–BioNTech COVID-19 vaccine. [18]

Sodium thiopental production

Sodium thiopental is an anesthetic discovered by Abbott Laboratories in the 1930s. [19] Hospira manufactured the drug after splitting off from Abbott under the brand name Pentothal. The WHO considers it an essential drug. However, it is also used as part of the lethal injection protocol in many US states. [20] Though Hospira has supplied these states with the drug, it has said, "we do not support the use of any of our products in capital punishment procedures." [21]

In January 2011, the company announced that it would stop producing sodium thiopental. [22] Hospira had recently moved production of the drug from a plant in North Carolina to a plant in Liscate, Italy. [22] However, the Italian government would only allow Hospira to manufacture it if they could guarantee it wouldn't be used in capital punishment. [23] The Italian constitution bans the use of capital punishment. [24] Company officials determined there was no way it could prevent sodium thiopental from being used in executions, and did not want to expose their employees to liability. [25] [24] [26]

Legislation and litigation

In August 2009, Hospira introduced a generic version of oxaliplatin, originally developed by Sanofi-Aventis SA for treating colon cancer. In April 2010, Hospira announced a legal settlement with Sanofi-Aventis, under the terms of which Hospira agreed to stop selling oxaliplatin injection in the United States by June 30, 2010, with the stipulation that they could relaunch the product on August 9, 2012. [27]

In 2010, the U.S. Congress passed legislation that would allow the marketing of biosimilar drugs in the United States. The legislation provided for 12 years of data exclusivity for brand-name biologics. Some consumer groups, like AARP, oppose this provision, saying it would cause lack of access to the promise of such drugs. [28]

Competitors

Hospira's competitors in specialty injectable pharmaceuticals include Fresenius AG, Baxter International Inc., Bedford Laboratories, Mylan, Sandoz, Teva Pharmaceuticals as well as divisions of several multinational pharmaceutical companies. Its competitors in medication management systems include Baxter, B. Braun Melsungen AG, CareFusion and Fresenius Medical Care AG. [29]

Infusion pump system firmware vulnerability disclosures

In 2014-2015 two security researchers independently identified what were described as severe defects in Hospira's PCA system firmware, the software controlling various of their drug infusion equipment (CVE-2015-3459 [30] and further advisory ICSA-15-125-01B [31] ). Numerous remote exploit vulnerabilities were found, in what was believed to be the first FDA safety advisory of its kind. [32] This was followed in July 2015 by a second FDA recommendation that hospitals discontinue use of the affected pumps entirely. [33] The devices, extent of their flaws, and implications, were widely discussed. [34] [35] [36]

Related Research Articles

<span class="mw-page-title-main">Sodium thiopental</span> Barbiturate general anesthetic

Sodium thiopental, also known as Sodium Pentothal, thiopental, thiopentone, or Trapanal, is a rapid-onset short-acting barbiturate general anesthetic. It is the thiobarbiturate analog of pentobarbital, and an analog of thiobarbital. Sodium thiopental was a core medicine in the World Health Organization's List of Essential Medicines, but was supplanted by propofol. Despite this, thiopental is listed as an acceptable alternative to propofol, depending on local availability and cost of these agents. It was previously the first of three drugs administered during most lethal injections in the United States, but the US manufacturer Hospira stopped manufacturing the drug in 2011 and the European Union banned the export of the drug for this purpose. Although thiopental abuse carries a dependency risk, its recreational use is rare.

<span class="mw-page-title-main">Valproate</span> Medication used for epilepsy, bipolar disorder and migraine

Valproate (VPA) and its valproic acid, sodium valproate, and valproate semisodium forms are medications primarily used to treat epilepsy and bipolar disorder and prevent migraine headaches. They are useful for the prevention of seizures in those with absence seizures, partial seizures, and generalized seizures. They can be given intravenously or by mouth, and the tablet forms exist in both long- and short-acting formulations.

<span class="mw-page-title-main">Pfizer</span> American multinational pharmaceutical and biotechnology corporation

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Lethal injection is the practice of injecting one or more drugs into a person for the express purpose of causing rapid death. The main application for this procedure is capital punishment, but the term may also be applied in a broader sense to include euthanasia and other forms of suicide. The drugs cause the person to become unconscious, stops their breathing, and causes a heart arrhythmia, in that order.

An epinephrine autoinjector is a medical device for injecting a measured dose or doses of epinephrine (adrenaline) by means of autoinjector technology. It is most often used for the treatment of anaphylaxis. The first epinephrine autoinjector was brought to market in 1983.

Abbott Laboratories is an American multinational medical devices and health care company with headquarters in Abbott Park, Illinois, United States. The company was founded by Chicago physician Wallace Calvin Abbott in 1888 to formulate known drugs; today, it sells medical devices, diagnostics, branded generic medicines and nutritional products. It split off its research-based pharmaceuticals business into AbbVie in 2013.

<span class="mw-page-title-main">Propofol</span> Intravenous medication used in anesthesia

Propofol is the active component of an intravenous anesthetic formulation used for induction and maintenance of general anesthesia. It is chemically termed 2,6-diisopropylphenol. The formulation was originally approved under the brand name Diprivan. Numerous generic offerings of this formulation now exist. Intravenous administration is used to induce unconsciousness after which anesthesia may be maintained using a combination of medications. It is manufactured as part of a sterile injectable emulsion formulation using soybean oil and lecithin, giving it a white milky coloration.

Pentobarbital is a short-acting barbiturate typically used as a sedative, a preanesthetic, and to control convulsions in emergencies. It can also be used for short-term treatment of insomnia but has been largely replaced by the benzodiazepine family of drugs.

Mylan N.V. was a global generic and specialty pharmaceuticals company. In November 2020, Mylan merged with Upjohn, Pfizer's off-patent medicine division, to form Viatris. Previously, the company was domiciled in the Netherlands, with principal executive offices in Hatfield, Hertfordshire, UK and a "Global Center" in Canonsburg, Pennsylvania, US.

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Aflibercept, sold under the brand names Eylea among others, is a medication used to treat wet macular degeneration and metastatic colorectal cancer. It was developed by Regeneron Pharmaceuticals and is approved in the United States and the European Union.

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ICU Medical, Inc. is a San Clemente, California-based company with global operations. ICU Medical products are designed to prevent bloodstream infections and protect healthcare workers from exposure to infectious diseases or hazardous drugs. ICU Medical product line includes intravenous therapy (IV) products, pumps, needle-free vascular access devices, custom infusion sets, closed system hazardous drug handling devices and systems, sensor catheters, needle-free closed blood sampling systems, and hemodynamic monitoring systems.

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<span class="mw-page-title-main">Euthanasia solution</span>

A euthanasia solution is a drug-containing aqueous solution for intentionally ending life to either relieve pain and suffering or execute convicts. The drugs used in euthanasia solution do not only need to be safe to personnel, but they also need to have a rapid onset of action and minimize the possible pain felt by humans and animals. To satisfy these requirements, the active ingredients in the euthanasia solution are usually anaesthetics, respiratory depressants, cardiotoxic drugs and cytotoxic drugs.

References

  1. ↑ "Hospira - Investor Relations - Shareholder FAQ". Archived from the original on 28 December 2015.
  2. ↑ "US-based Hospira to buy Orchid Chemicals' injectables biz for $400 mn". The Economic Times. 16 December 2009.
  3. 1 2 "About Hospira".
  4. ↑ "HSP Key Statistics". Yahoo.com.
  5. ↑ Higginbotham, Stacey (25 January 2004). "Abbott Labs to spin off unit". Austin Business Journal.
  6. ↑ "Hospira Begins Trading As Part of the S&P 500". Wall Street Journal. 2004-05-04. ISSN   0099-9660 . Retrieved 2020-04-23.
  7. ↑ "Hospira close to purchase of Mayne". Chicago Tribune. 19 January 2007. Retrieved 2020-04-23.
  8. ↑ "US-based Hospira to Buy Orchid Chemical's Injectables Biz For $400 Mn". The Economic Times. 16 December 2009.
  9. ↑ "Hospira Acquires Theradoc, Enhances Medication Safety and Infection Management Offerings". Infection Control Today. 2 December 2009.
  10. ↑ "Hospira To Close $145M Javelin Deal This Week". BusinessWeek. 29 June 2010. Archived from the original on 26 October 2012.
  11. ↑ "Hospira Names Allergan's Michael Ball as CEO". Daily Herald. 8 March 2011.
  12. ↑ "Hospira names John Staley non-executive chairman - MarketWatch". Archived from the original on 2012-07-07. Retrieved 2012-04-11.
  13. ↑ "Pfizer to buy Hospira to boost biosimilar pipeline". CNBC . 5 February 2015.
  14. ↑ "Pfizer completes $17-billion Hospira acquisition". The Pharma Letter . 4 September 2015. Retrieved 28 April 2017.
  15. ↑ Pringle, Sarah (6 January 2017). "ICU Medical Wins Big Price Cut to Buy Pfizer's Hospira Unit". TheStreet.com . Retrieved 28 April 2017.
  16. ↑ Jamerson, Joshua (6 October 2016). "ICU Medical To Buy Pfizer Unit in $1 Billion Deal". The Wall Street Journal . Retrieved 28 April 2017.
  17. ↑ "ICU Medical Completes the Acquisition of Hospira Infusion Systems from Pfizer". ICU Medical . Retrieved 28 April 2017.
  18. ↑ "Package Insert - Comirnaty". U.S. Food and Drug Administration . December 2021. Retrieved 2022-05-24.
  19. ↑ Thatcher, Virginia S. (1953). "Chapter 7: Illegal or Legal?". History of Anesthesia with Emphasis on the Nurse Specialist. J.B. Lippincott. Archived from the original (PDF) on 2011-05-01.
  20. ↑ Allen, Nick (27 September 2010). "US executions on hold due to lethal injection drug shortage". London: The Telegraph.
  21. ↑ Welsh-Huggins, Andrew (27 September 2010). "Shortage of drug holds up some U.S. executions". NBC News. AP.
  22. 1 2 McGreal, Chris (2011-01-23). "Lethal injection drug production ends in the US". The Guardian. ISSN   0261-3077 . Retrieved 2020-04-23.
  23. ↑ "EU puts squeeze on drug supplies for U.S. executions". Reuters. 2011-12-20. Retrieved 2020-04-23.
  24. 1 2 Koppel, Nathan (January 22, 2011). "Drug Halt Hinders Executions in the U.S." The Wall Street Journal.
  25. ↑ Eckholm, Erik; Zezima, Katie (21 January 2011). "States Face Shortage of Key Lethal Injection Drug". New York Times .
  26. ↑ "Hospira - Investor Relations - Press Release". corporate-ir.net.
  27. ↑ "Sanofi-Aventis Settles Additional Eloxatin Suits". MarketWatch. 6 April 2010.
  28. ↑ "Home - AARP Online Community". aarp.org.
  29. ↑ "Hsp". CNN.
  30. ↑ "NVD - Detail". nist.gov.
  31. ↑ "Hospira LifeCare PCA Infusion System Vulnerabilities (Update B) - ICS-CERT". us-cert.gov.
  32. ↑ "Billy (BK) Rios". xs-sniper.com.
  33. ↑ "Symbiq Infusion System by Hospira: FDA Safety Communication - Cybersecurity Vulnerabilities". fda.gov.
  34. ↑ "Researcher: Drug Pump the 'Least Secure IP Device I've Ever Seen' - The Security Ledger". The Security Ledger. 5 May 2015.
  35. ↑ "Serious Security Flaws Found in Hospira LifeCare Drug Pumps - SecurityWeek.Com". securityweek.com. 6 May 2015.
  36. ↑ Andrea Peterson (3 August 2015). "Connected medical devices: The Internet of things-that-could-kill-you". Washington Post.
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