Hospira Authorizes $1B Buyback

 HSP has a market cap of $9.7 Billion and an EV of $10.8 Billion. LAKE FOREST, Ill., April 25, 2011 /PRNewswire/ — Hospira, Inc. (NYSE:HSPNews), a global specialty pharmaceutical and medication delivery company, today announced that its board of directors has authorized the repurchase of up to $1 billion of the company’s common stock. “This share repurchase program underscores our continued belief and optimism in Hospira’s long-term growth prospects, as well as our commitment to return value to our shareholders,” said F. Michael Ball, chief executive officer. “The share repurchase is one component of our planned uses of cash and capital structure, which we will update as scheduled when we announce our first-quarter 2011 results on April 26.” The multi-year program authorizes the company to repurchase common shares from time to time through the open market and through private transactions in compliance with securities regulations and other legal requirements. The size and timing of any purchases are at the discretion of company management, based on factors such as price, business and market conditions. The program does not have an expiration date. The new authorization is the second share-repurchase authorization for the company. The first authorization, for $400 million of the company’s common stock, was announced in February 2006 and recently completed. For the three months ended Dec. 31, 2010, the company had approximately 170.1 million weighted average shares of common stock outstanding.


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