Bear Stearns rates Hospira at outperform

Hospira, Inc. was rated at outperform by Bear Stearns analyst Rick Wise after the company said it will acquire Mayne Pharma, an Australian-based specialty injectable pharmaceuticals company, for $2 billion in cash. The acquisition could accelerate Hospira's top-line growth in 2008 to more than 9% year over year, up from the analyst's estimate of 8%. The combination of Hospira and Mayne will form the largest global specialty injectable pharmaceutical company, while expanding Hospira's portfolio to include oncology. Shares of the Lake Forest, Ill., specialty pharmaceutical company were up $1.65, or 4.39%, at $39.20. (NYSE: HSP)

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.