Baxter reports improved second-quarter performance

Baxter has seen a year-on-year improvement in its business performance in the second quarter of 2011.

The company's worldwide sales total grew by 11 percent to $3.5 billion (2.1 billion pounds) during the period, while its net income level rose by 15 percent to $615 million.

Improvements were noted across both its bioscience and medical products divisions, with strong demand recorded for the immune globulin treatment Kiovig, while the firm was also able to complete the sale of its generic injectables business to Hikma Pharmaceuticals.

As a result of this progress, the company has raised its estimates for the year as a whole and now expects to achieve sales growth of three to four percent.

Robert Parkinson Jr, chairman and chief executive officer of Baxter, said: "We remain encouraged with the continued improvement in our financial performance and progress with the initiatives we have implemented to enhance our commercial, operational and scientific effectiveness."

Last month, the firm announced that it has also been able to make progress towards its sustainability goals in the last year, slashing both its water use and greenhouse gas emissions.