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Watch RDY based on Generic Drug HSP results today.

October 27, 2009 – Comments (0) | RELATED TICKERS: RDY , HSP

HSP Q3 net profit up 42 percent, sales up 9 percent

* Maintains full-year sales forecast, boost EPS outlook

CHICAGO, Oct 27 (Reuters) - Hospital products and generic drugmaker Hospira Inc (HSP.N) on Tuesday said quarterly net earnings rose 42 percent, helped by a new product launch, and it raised its full-year profit forecast.

Third-quarter net income was $116.2 million, or 71 cents a share, compared with $81.8 million, or 51 cents a share, a year ago. Excluding special items, Hospira said it earned 90 cents a share.

Net sales rose about 9 percent to $1.01 billion in the quarter.

Lake Forest, Illinois-based Hospira said it continues to expect net sales for the year to rise about 5 percent to 7 percent, excluding the impact of foreign exchange translations, and to be up slightly including foreign exchange.

The company said it now expects full-year adjusted 2009 earnings of between $2.85 a share and $2.90 a share, up from the previous outlook of $2.80 a share to $2.85 a share. (Reporting by Susan Kelly, editing by Maureen Bavdek)