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Financial Report: Baxter

BioScience revenues up 5%

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By: Tim Wright

Editor-in-Chief, Contract Pharma

Baxter

1Q Revenues: $3.4 billion (+2%)

1Q Earnings: $552 million (-6%)

Comments: BioScience revenues were $1.5 billion (+5%), driven primarily by strong ADVATE sales, as well as certain plasma-based therapeutics and vaccines. Medical Products sales were flat at $1.9 billion. Sales in the U.S. increased 1% to $1.5 billion and international sales were $2.0 billion, up 2%. R&D expenses were down 9% to $246 million. Results include after-tax special items totaling $29 million primarily for deal-related costs associated with Baxter’s planned acquisition of Gambro AB.

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