Suspending oxaliplatin sales leads to loss for Hospira
LAKE FOREST, Ill. The temporary discontinuation of sales of a drug used by cancer patients led to a slight dip in sales for Hospira during third quarter 2010, but the company nonetheless had strong sales overall, according to an earnings report released Tuesday.
The generic drug maker reported net sales of $949 million during the quarter, compared with $1 billion in third quarter 2009. The company temporarily suspended sales of the drug oxaliplatin due to the terms of a litigation settlement. Hospira’s temporary hold on shipments of the Symbiq infusion system led to a decline in its medication management systems division, which also contributed to the decrease in sales.
Profits for the quarter were $189.3 million, compared with $207.2 million, with that decrease also resulting mostly from the suspension of oxaliplatin sales.