Hospira completes Orchid plant takeover to boost API supply security

Hospira ($HSP) completed its acquisition of an Indian API plant and R&D site from Orchid Chemicals & Pharmaceuticals. The $218 million takeover gives Hospira an API plant and 665 staff in Aurangabad, India, furthering its ambition to become less reliant on third-party ingredient suppliers. Hospira expects to increase supply security and realize cost benefits by integrating Orchid's β-lactam APIs into its business. Release