Baxter Healthcare ‘extremely pleased’ with results

Baxter Healthcare has said it achieved better-than-expected sales for the second quarter and has raised the company’s outlook to reflect the growing momentum behind the compnay.

The company’s BioScience business recorded record quarterly sales of $1.1 billion (593 million pounds), which includes its biosurgery products for haemostasis, tissue sealing and repair.

However, the company said its medical delivery sales decreased by seven per cent due to the temporary withdrawal of its Colleague infusion pumps following the discovery of defects, as well as generic competition.

Baxter’s sales for medical renal products and global peritoneal dialysis, used in the home for end-stage renal disease, grew over the quarter.

Robert L Parkinson Jr, chairman and chief executive officer, stated: “We are extremely pleased with our operational and financial performance in the first half of the year, as we realize the benefits from our ongoing margin improvement initiatives.”

“With our financial results exceeding our first-half objectives, we now have additional flexibility to not only deliver growth in the near term, but to accelerate our investments in research and development and select marketing activities to drive future value for our shareholders,” he added.

Baxter claims to supply almost every hospital in the UK with medical products. The company has a manufacturing facility in Thetford, Norfolk, as well as a national distribution centre in Northampton and UK headquarters in Compton, near Newbury in Berkshire.

The company employs more than 1,350 people in the UK.

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