Baxter meets expectations in second quarter

Baxter has expressed satisfaction with its performance in the second quarter of 2010 after posting financial results which were in line with its guidance.

The healthcare firm’s net sales for the quarter increased by two per cent year-on-year to $3.2 billion (2.1 billion pounds), contributing to a first half total of $6.1 billion.

Recent business highlights noted by Baxter in its second quarter fiscal report included the European approval of a new dosage of Kiovig, as well as the initiation of new clinical studies for several haemophilia treatments.

The company’s performance in the quarter meant that it has also been able to confirm its guidance for the full-year period, with sales growth of between one and three per cent expected across 2010.

Robert Parkinson Jr, chairman and chief executive officer of Baxter, said: “We remain committed to accelerating earnings growth in the future by leveraging our diversified healthcare model, broad geographic reach and strong new product pipeline.”

Earlier this month, Baxter posted clinical data from two new studies of the haemophilia drug Advate, demonstrating its safety and efficacy profile.