Inside these posts: Eloxatin

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Hospira profits tumble over lost cancer drug sales

Hospira Inc.’s third-quarter profit tumbled 40 percent largely due to the loss of U.S. sales of a generic cancer drug the company cannot sell due to a patent settlement that is keeping the cheaper version off the market.

The Lake Forest-based maker of generic injectable drugs and medication delivery devices said net income fell to $71.4 million, or 42 cents a share in the third quarter ended Sept. 30. That compares to $116.2 million, or 71 cents in the third quarter of 2009. Get the full story »