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MEDICAL
Hospira misses views, tumbles
The hospital goods firm fell 15.5% to 39.70 after it said its Q4 EPS fell 20% to 32 cents ex items, 13 cents below views. Sales fell 8% to $646.2 mil, also sharply under estimates, as hospitals worldwide bought fewer of its products. Hospira forecast '06 profit of $2.05-$2.10 ex items and net sales growth of 4%-6% vs. '06 estimates of $2.25. The company announced plans to buy back $400 mil of stock.
Teva beats on N. American sales
The world's largest generic drug maker reported a 9.8% rise in Q4 earnings to 45 cents a share, beating views by 2 cents, citing strong North American sales. Revenue rose 6% to $1.4 bil, with sales of its proprietary multiple sclerosis treatment Copaxone up 24%. The Israel-based firm will soon launch generic versions of Merck's cholesterol drug Zocor, Bristol-Myers Squibb's cholesterol drug Pravachol, and Pfizer's antidepressant Zoloft. ...