Moody’s revises Hospira to positive

Moody's Investors Service said it raised Hospira, Inc.'s rating outlook to positive from negative and affirmed all other ratings, including the Ba1 corporate family rating.

"Hospira is turning the corner on certain regulatory matters and has potential offsets to lost Precedex sales," Moody's senior credit officer Diana Lee said in a news release.

The positive outlook reflects the agency’s belief that the company has made substantial progress in regulatory and production challenges related to its Rocky Mount manufacturing facility. In addition, Moody's believes that the negative effects associated with generic competition for Precedex will be partially offset by increased pricing on other products, several of which are still subject to shortages, as well as launches of new generic injectibles and expansion of its biosimilar version of Remicade into larger countries in the European Union.

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