Baxter Earnings Expected to Rise
Earnings period ended before FDA request for more information on new drug before approval sent shares lower.
Wall Street experts expect earnings for Deerfield based Baxter International to increase one percent from the same period a year ago to 99 cents per share, according to a report Tuesday in the Wall Street Journal. The earnings report is due out Thursday.
In other news about Baxter, shares fell five percent Monday because the Food and Drug Administration is requiring additional information before approving one of its new products, HyQ, according to reports in the Chicago Tribune.
The FDA wants more information on HyQ, an experimental drug designed to help the human immune system. The product is being developed in partnership with Halozyme Therapeutics of California. Baxter had hoped to move ahead with the product in the first half of this year but may have to wait until next year.