UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D. C. 20549

 

 

FORM 8-K

 

CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported): July 29, 2004

 

 

HOSPIRA, INC.

(Exact name of registrant as specified in its charter)

 

 

275 N. Field Drive

Lake Forest, Illinois 60045

(Address of principal executive offices)(Zip Code)

 

Registrant’s telephone number, including area code: (224) 212-2000

 

 

Item 12       Results of Operations and Financial Condition

 

The registrant is furnishing unaudited condensed combined statements of earnings for the three months ended March 31, June 30, September 30 and December 31, 2003.  These historical results are presented on a basis consistent with the combined financial statements for the year ended December 31, 2003, included in Hospira’s information statement, included as an exhibit to Hospira’s registration statement on Form 10, which the SEC declared effective on April 13, 2004.  The results do not include pro forma or any other adjustments that assume the separation from Abbott Laboratories (“Abbott”) or costs that would be incurred to operate as an independent company.  Also provided are unaudited net sales by product line for each of the three months ended March 31, June 30, September 30 and December 31, 2003.    Hospira was formed as a result of the spin-off of Abbott’s core global hospital products business as a tax-free distribution to shareholders.  The spin-off was completed on April 30, 2004.

 

Hospira, Inc.

Condensed Combined Statements of Earnings

(unaudited, dollars in thousands)

 

		Three Months Ended
		March 31			June 30			September 30			December 31
Net Sales		$	571,522		$	597,376		$	598,026		$	633,304
Net Sales to Abbott Laboratories		61,589			51,935			51,272			58,713
Total Net Sales		633,111			649,311			649,298			692,017
Cost of products sold		459,413			474,409			469,283			519,581
Research and development		19,365			23,933			29,729			36,693
Selling, general and administrative		56,762			54,247			56,933			63,014
Total Operating Costs and Expenses		535,540			552,589			555,945			619,288
Operating Earnings		97,571			96,722			93,353			72,729
Other expense (income), net		2,365			978			(1,443		)	(646		)
Earnings Before Taxes		95,206			95,744			94,796			73,375
Taxes on earnings		28,086			28,244			27,965			14,463
Net Earnings		$	67,120		$	67,500		$	66,831		$	58,912

 

The results set forth above differ in two respects from amounts reported as Discontinued Operations by Abbott Laboratories in a Form 8-K filed with the SEC on July 1, 2004. The results set forth above include Sales to Abbott Laboratories, which are recorded at cost, and exclude direct transaction costs incurred by Abbott in conjunction with the spin-off of Hospira.

 

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Hospira, Inc.

Sales by Product Line

(unaudited, dollars in thousands)

 

		Three Months Ended
		March 31			June 30			September 30			December 31
U.S. —
Specialty Injectable Pharmaceuticals		$	207,526		$	218,437		$	216,085		$	215,501
Medication Delivery Systems		177,429			183,634			185,286			197,578
Injectable Pharmaceutical Contract Manufacturing		36,435			44,097			37,337			39,847
Sales to Abbott Laboratories		51,816			42,120			42,940			45,595
Other		66,430			57,949			71,173			71,363
Total U.S. Sales		539,636			546,237			552,821			569,884
International —
Sales to Third Parties		83,702			93,259			88,145			109,015
Sales to Abbott Laboratories		9,773			9,815			8,332			13,118
Total International Sales		93,475			103,074			96,477			122,133
Combined Net Sales		$	633,111		$	649,311		$	649,298		$	692,017

 

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SIGNATURE

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

 

	HOSPIRA, INC.
	/s/ Brian J. Smith
	By:		Brian J. Smith
			Senior Vice President, General Counsel and Secretary
Date:  July 29, 2004

 

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