Business & Tech
Hospira Bought by Pharmaceutical Giant
Lake Forest company's success precedes $15 billion deal.

Lake Forest-based Hospira has been bought by pharmaceutical giant Pfizer, the Chicago Tribune reported Thursday. The deal was for $15.23 billion.
Hospira, which saw quarterly earnings profits skyrocket because of the sale of its clinical surveillance software business, TheraDoc, had stock rise to $87.75 in Thursday morning trading - well up from $42.60 a year ago. They are known for injectible drugs and infusion technologies.
A joint press release between the two entities indicated Pfizer will pay $90 per share in cash, a 39 percent premium to Hospira’s Wednesday closing price of $64.80.
Find out what's happening in Lake Forest-Lake Blufffor free with the latest updates from Patch.
Read more via the Chicago Tribune
Get more local news delivered straight to your inbox. Sign up for free Patch newsletters and alerts.