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.

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