Hospira to Cut 1,450 Jobs

Lake Forest, Illinois’ Hospira, which makes and sells BioTime’s blood product Hextend in the US, will cut 1,450 people, or 10% of its workforce.

Alameda, California-based BioTime’s revenue comes almost exclusively from Hextend, which is used in emergency and battlefield surgery. Hospira paid BioTime $1.2 million in Hextend royalties in 2008.