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Home Industry News Baxter reports record financial performance for 2012

Baxter reports record financial performance for 2012

25th January 2013

Baxter has expressed confidence in its future business prospects after achieving record levels of sales, earnings and cash flow in 2012.

According to the company's latest financial report, its worldwide sales for the last 12 months came to $14.2 billion (nine billion pounds), which was up by two percent on the year before.

During 2012, Baxter was able to increase its investment in research and development, agree new partnerships and executive business development initiatives, leading to improved demand for both its bioscience and medical product sales.

In the first quarter of 2013, the firm expects to achieve further sales growth of around two to three percent, excluding the impact of foreign currency.

Robert Parkinson Jr, chairman and chief executive officer of Baxter, said: "The progress we have made during 2012, together with our solid financial performance, sets a very strong foundation for 2013 and beyond."

This comes after Baxter agreed to purchase the global rights to a new haemophilia drug from Ipsen and Inspiration Biopharmaceuticals earlier this week.ADNFCR-8000103-ID-801528647-ADNFCR

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