Hospira Supports President Obama on Drug Shortages
LAKE FOREST, Ill., Oct. 31, 2011 - Hospira, Inc. (NYSE: HSP), the world's leading provider of injectable drugs and infusion technologies, announced today it supports President Obama's order to broaden reporting of potential drug shortages.
Earlier this year, Hospira was the first pharmaceutical company to publicly state its support of legislation that would make such reporting mandatory and impose penalties for failure to report. Hospira's policy has always been to give the FDA as much advance warning as possible when a shortage is imminent.
Hospira also supports the President's efforts to address price gouging. Hospira has agreements in place with distributors to actively police against any of its products getting into the gray market.
Hospira is addressing shortages by building additional capacity and capabilities for managing capacity. The company is also increasing inventory and making manufacturing improvements. Hospira is focusing on its most critical life-saving drugs and prioritizing their manufacture. The company's goal is to improve service levels further so that customers and patients never have to wait for a product they need.