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Home Industry News Baxter reports better-than-expected Q2 2014 performance

Baxter reports better-than-expected Q2 2014 performance

18th July 2014

Baxter has announced better-than-expected financial results for the second quarter of 2014, with sales and earnings exceeding its previous guidance.

The company's worldwide sales came to $4.3 billion (2.51 billion pounds) during the three months, up by 16 percent year on year, with its bioscience and medical products divisions both seeing strong growth.

During the quarter, the firm was able to expand the availability of the product Advate, complete and commence a number of key clinical trials, and make progress on a number of business transformation projects, including the takeover of Gambro.

Sales growth of approximately 12 to 13 percent is now expected during the third quarter of 2014 as Baxter continues to reinforce its commercial position.

Robert Parkinson Jr, chairman and chief executive officer of Baxter, said: "We are driving solid performance across our entire business portfolio, and advancing care across our key franchises in both developed and emerging markets."

Currently, the organisation is preparing to separate into two healthcare companies, with its biopharmaceuticals division to become an independent concern. Robert Hombach and James Saccaro were named as the chief financial officers of the two businesses earlier this month.ADNFCR-8000103-ID-801736191-ADNFCR

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