Baxter reports double-digit third quarter income growth

Baxter has experienced a better-than-expected business performance in the third quarter of 2010.

The healthcare company's three-month financial report shows that Baxter's income total for the period came to $595 million (379 million pounds), up by 12 percent compared to Q3 2009.

This increase, which exceeded internal guidance, was partially attributed to the momentum seen in its medication delivery business, which saw its sales advance by five percent year-on-year.

Intravenous therapies, renal products and the Sigma Spectrum infusion pump were all highlighted as strong contributors, while Baxter's BioScience range also performed well.

Robert Parkinson Jr, chairman and chief executive officer at Baxter, said: "We continue to benefit from the diversified and medically-necessary nature of our portfolio, broad geographic reach and strong financial position, despite continued challenges presented by the evolving global macro-environment."

Earlier this month, Baxter formed a new medical products business unit, which will be led by the newly-promoted Robert Davis.