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Hospira takeover of Orchid’s injectables to complete in March

Last updated on 17-Feb-2010 at 11:16 GMT2010-02-17T11:16:35Z

Hospira’s acquisition of Orchid Chemicals and Pharmaceuticals generic injectables business is on track to complete next month now the Hart-Scott-Rodino period required by the US Federal Trade Commission has elapsed.

The $400m (€278m) deal, announced in December , adds Orchid’s US Food and Drug Administration (FDA) approved injectables facility in Chennai, India to Hospira’s global manufacturing network.

CEO Christopher Begley said: "Orchid's capabilities provide a platform for future commercial growth, and we look forward to welcoming our new employees, whose talents and skill sets will contribute to Hospira's success."

The deal will also see Orchid supply Hospira with active pharmaceutical ingredients (APIs) under a long-term agreement.

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