Hospira's first-quarter 2011 results beat forecasts, helped by generic Taxotere

27 April 2011

Specialty drugmaker Hospira (NYSE: HSP) yesterday reported results for the first quarter ended March 31, 2011, showing that net sales were $1.0 billion, down a marginal 0.5%, and adjusted diluted earnings per share were $0.93, beating consensus forecasts as the company benefitted from strong demand from the just launched generic version of French drug major Sanofi-Aventis’ cancer drug Taxotere (docetaxel).

Net income for the three months was up 5.8% at $149.9 million, or $0.88 a share, or $0.84 cents a share, a year earlier. Analysts polled by Thomson Reuters on average expected the company to earn $0.78 a share.

“Hospira started out the year with a stronger-than-expected first quarter, aided by strong US sales of docetaxel and gemcitabine, two major oncolytic pharmaceuticals," said Christopher Begley, executive chairman and former chief executive .

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Chairman, Sanofi Aventis UK