By Bruce Japsen
F. Michael (Mike) Ball.
Hospira Inc. has named F. Michael Ball, president of Botox maker Allergan Inc., as its next top executive, succeeding the only CEO the Lake Forest-based maker of generic injectable drugs has had since it was spun off from Abbott Laboratories.
Ball, 55, will Hospira become chief executive March 28, replacing Christopher Begley, who will retire after nearly seven years in the top job, the company announced late Monday. Hospira was spun off as a public company from North Chicago-based Abbott Laboratories in 2004. Get the full story »
By Bruce Japsen
Hospira Inc. chief executive officer Christopher Begley said this morning that the company’s board will be interviewing candidates to succeed him in the next two months from a newly-created “short list.”
Begley, the top executive of the Lake Forest-based generic drug and device maker, told Wall Street analysts on the company’s third-quarter earnings call that “several dozen” applicants for his job have been pared down to a “short list.” Get the full story »
July 28, 2010 at 3:19 p.m.
Filed under:
Earnings,
Pharmaceuticals
By Bruce Japsen
Though Hospira Inc.’s second-quarter profits more than tripled from a year earlier, the company’s stock lost more than 7 percent Wednesday as the medical product maker continued to be dogged by regulatory issues.
The Lake Forest-based maker of medication delivery devices and injectable generic drugs had net income of $83.5 million, or 49 cents a share, in the period ended June 30. That compares to $25.5 million, or 16 cents a share in the second quarter of 2009, when it had reported charges related to its cost-cutting initiative, “Project Fuel,” that is saving the company more than $100 million annual and has cut several hundred jobs. Get the full story »
