Key Lake County Employer Changes Hands

·        The transaction, in which Lake Forest-based Hospira was sold to international health care giant Pfizer, will pay Hospira shareholders more than $15 billion.  Equity owners will be paid $90/share.  The total cost of the acquisition to Pfizer will be approximately $17 billion.  Hospira specializes in pharmaceutical substances and treatments that must be injected or infused into a patient’s bloodstream or lymphatic system rather than swallowed as a pill.  The firm has also staked out a market presence in generic biotechnology drugs, a market niche that has been labeled “biosimilars.”  

Hospira originated as the hospital products division of Abbott Laboratories.  Their health-care lines of enterprise made it possible for the firm to enter the fast-growing field of medication management systems.  As of fiscal year 2014, the firm had about 15,000 worldwide employees.