July 30 (Reuters) - Hospira Inc, a pharmaceutical and medical device maker, posted a better-than-expected quarterly profit on higher sales of specialty injectable drugs, and raised its full-year outlook.
The company’s net income more than doubled to $70.9 million, or 42 cents per share, for the second quarter ended June 30, from $32.9 million, or 20 cents per share, a year earlier.
Excluding items, it earned 72 cents per share. Revenue rose 10.7 percent to $1.14 billion, helped by a 13.8 percent increase in specialty injectable pharmaceuticals sales.
Analysts on average had expected earnings of 57 cents per share on revenue of $1.06 billion, according to Thomson Reuters I/B/E/S.
Hospira said it expects 2014 adjusted earnings of $2.30-$2.50 per share, up from its earlier adjusted earnings forecast of $2.00-$2.25 per share. (Reporting by Anand Basu; Editing by Saumyadeb Chakrabarty)