Hospira profit beats estimates on higher prices, sales

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Hospira profit beats estimates on higher prices, sales

By Amrutha Penumudi (Reuters) - Hospira Inc reported a quarterly profit that handily beat analysts' estimates as the company raised prices and sold more of its injectable drugs. The drugmaker's performance is closely watched by investors for the impact of generic competition on its injectable sedative, Precedex. Hospira's shares rose as much as 9.2 percent to a more than three-year high of $57.99 on Thursday. Precedex lost its exclusivity earlier this year after the U.S. Food and Drug Administration allowed generic versions of the drug. Hospira challenged the decision but lost the case. ...

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