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Financial Report: Baxter

BioScience revenues up 8% driven by hemophilia therapies

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By: Kristin Brooks

Managing Editor, Contract Pharma

Baxter

3Q Revenues: $4.2 billion (+13%)

3Q Earnings: $468 million (-14%)

YTD Revenues: $12.2 billion (+15%)

YTD Earnings: $1.5 billion (-8%)

Comments: BioScience revenues were $1.7 billion, up 8%, driven primarily by double-digit growth and continued strong demand for hemophilia therapies (+11% to $942 million), including ADVATE [Antihemophilic Factor (Recombinant), Plasma/Albumin-Free Method] and FEIBA (an inhibitor therapy). BioScience sales, including vaccines, were up 7%. Medical Products sales were $2.5 billion, up 17%. Results reflect the income contribution from the vaccines franchise of $21 million and after-tax special items totaling $273 million, primarily for amortization and costs associated with upfront and product development milestone payments, integration of the company’s acquisition of Gambro AB, and Baxter’s planned separation.

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