Baxter reports positive financial performance in third quarter

Baxter has expressed satisfaction with its financial performance during the third quarter of 2012.

The medical company generated sales of $3.5 billion (2.18 billion pounds) during the period, which was roughly level with last year's third quarter, while its net income increased by five percent on a per share basis.

Its strong US sales helped to compensate for the more challenging conditions faced by its international operations, while its bioscience and medical products divisions both delivered results that were in line with 2011's.

The firm said its encouraging results will allow it to continue to invest in innovation, pursue new business opportunities and advance its product pipeline.

Robert Parkinson Jr, chairman and chief executive officer at Baxter, said: "The solid underlying fundamentals of our businesses continue to be supported by the medically-necessary nature of our portfolio and therapies, growing global demand and our broad global presence."

This comes after the company appointed Dr Uma Chowdhry and Thomas Chen to its board of directors, a move that will allow it to benefit from their extensive expertise.