Baxter reports strong financial results in Q1 2014

Baxter has expressed satisfaction with its financial results for the opening quarter of the 2014 business year, during which it it generated a worldwide sales total of $3.95 billion (2.35 billion pounds).

This represented a year-on-year increase of 15 percent, with a significant proportion of this improvement attributable to the recent acquisition of Gambro. Net income rose to $556 million and earnings per diluted share increased to $1.01.

During the quarter, the firm received a positive regulatory decision on its product Glassia, reported positive encouragingical trial data for BAX 111 and completed the takeover of Chatham Therapeutics, giving it access to innovative gene therapy technologies for haemophilia treatment.

In the second quarter, Baxter expects further sales growth of around 12 to 13 percent.

Robert Parkinson, chairman and chief executive officer of Baxter, said: "We delivered strong financial results, continued to enhance our flexibility to invest for future growth, build and advance the new product pipeline, expand our business portfolios and position the company for sustained performance and success."