Baxter reports business growth in first half of 2013

Baxter has achieved year-on-year growth during the first half of 2013, according to the medical company's latest financial report.

During the second quarter of the year, the firm achieved a worldwide sales total of $3.7 billion (2.42 billion pounds), up by three percent on Q2 2012, bringing its figure for the first six months to $7.1 billion – a two percent year-over-year rise.

In the last three months, the company achieved EU regulatory approval for its new product HyQvia and US approval for Rixubis, while it also completed enrolment for the pivotal phase III study of the myelodysplastic syndrome therapy rigosertib.

Baxter has now confirmed its financial outlook for full-year 2013, with sales growth of six percent anticipated for the third quarter.

Robert Parkinson, chairman and chief executive officer at Baxter, said: "We continue to advance care across our key franchises in both developed and emerging markets, while focusing on innovation and research and development programmes that will fuel future growth."

This comes after the firm announced last month that it is making a new investment in Ocular Therapeutix, a specialist developer of ophthalmic therapeutic products.