- Pfizer completed purchase of injectable drugmaker Sept. 3
- Executive's options vested in $90-a-share acquisition
Michael Ball, former chief executive officer Hospira Inc., the biggest injectable-drug maker, made $91.1 million on the sale of his company’s shares to Pfizer Inc.
Ball, who had run Lake Forest, Illinois-based Hospira since 2011, had 1.41 million shares and options when Pfizer completed its purchase of the company at $90 a share today, according to a regulatory filing. He spent $36 million to exercise his options, then sold shares valued at $127.1 million, according to data compiled from the filing.
Pfizer agreed in February to buy Hospira, which makes intravenous drugs and devices to deliver them, for $17 billion to bolster its roster of generic medicine.
Neha Wadhwa, a spokeswoman for New York-based Pfizer, declined to comment beyond the filing.