Hospira, Inc. (HSP) announced that it has received 510(k) regulatory clearance for the Plum 360 infusion system with Hospira MedNet safety software from the FDA. The Plum 360 infusion system builds on the unique air management and secondary delivery features of Plum A+, while expanding its drug library and wireless capability to enable streamlined electronic medical record integration. The company expects to make the Plum 360 infusion system fully available in the U.S. in the coming weeks.
The Plum 360 infusion system with Hospira MedNet safety software improves the safety and efficiency of intravenous drug administration and is associated with several benefits including smart secondary delivery, improved wireless communication and large drug library capacity with fast keypad drug search among others.
We are pleased with the clearance of the Plum 360 infusion system with Hospira MedNet safety software. We believe it will complement Hospira’s medication management portfolio, which includes other products like the Plum A+ infusion system, the Sapphire ambulatory infusion system, SapphirePlus large-volume general-infusion device and LifeCare PCA pain management pump with Hospira MedNet.
In the first nine months of 2014, the medication management segment generated revenues of $629.3 million. Segmental revenues suffered from the FDA import alert prohibiting the importation into the U.S. of the Plum, GemStar and LifeCare PCA infusion pumps.
To address several issues at its medication management segment, Hospira has implemented a device strategy to modernize and streamline its device portfolio in order to drive growth and serve customers better.
Hospira currently carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the health care sector include Amgen Inc. (AMGN), AMAG Pharmaceuticals, Inc. (AMAG) and Impax Laboratories Inc. (IPXL). While Impax Labs and Amgen carry a Zacks Rank #1 (Strong Buy), AMAG holds a Zacks Rank #2 (Buy).
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