Baxter expresses satisfaction with 2010 results

Baxter has published its financial results for 2010, reporting satisfaction with its performance in the face of challenging industry conditions.

The pharmaceutical company's global sales for the year came to $12.8 billion (8.06 billion pounds), up by two percent on last year, with international sales comprising $7.6 billion of this total.

During the 12 months, the firm was able to deliver record cash flow levels and provide value to shareholders via dividends and repurchases.

It was also able to progress 14 drug development programmes into phase III during 2010.

Baxter expects a continuation of its single-digit sales growth in 2011, when taking into account the sale of its generic injectables business.

Robert Parkinson Jr, chairman and chief executive officer of Baxter, said: "We continue to benefit from the diversified and medically necessary nature of our portfolio, broad geographic reach and strong financial position."

Last month, the company highlighted the success of the humanitarian work it has been conducting in Haiti in order to help locals cope with the effects of a cholera outbreak.