Baxter sees double-digit third quarter growth

Baxter has published its financial results for the third quarter of 2011, during which it experienced strong year-on-year income growth.

The healthcare company's reported net income for the period came to $525 million (329.79 million pounds), up by ten percent on Q3 2010, allowing it to confirm its guidance for the full-year period.

Worldwide sales rose by eight percent during the period to $3.48 billion, adjusting to ten percent when factoring in the divesture of the US multi-source generic injectables business, which was sold in the second quarter.

Meanwhile, nine-month figures for the company's performance are also significantly ahead of their 2011 levels, despite the ongoing challenges posed by present economic conditions.

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."

Earlier this month, the company commenced a clinical study of a new therapy option for von Willebrand Disease, dubbed BAX 111.