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Business Roundup: Baxter Sees Long Term Growth

Walgreens sues DEA, Massachusetts Mutual Picks Deerfield agency for entry into Illinois.

Deerfield based business giants Baxter International and Walgreens were in the news this past week and Massachusetts Mutual Life Insurance Company will be basing its Illinois operations in the Village, according to national news outlets.

Baxter projects its sales to grow at an average annual rate of five percent over the next five years while it expects to show profits increase between seven and nine percent per share, according to reports from NASDAQ.

The company also anticipates cash flow from operations to reach $4.5 billion by 2017 giving it funds to reinvest in the business and use for dividends to shareholders, according to NASDAQ. The corporation will continue to optimize the core business portfolio, advance new product pipeline, boost business development initiatives and develop new business models.

Walgreens, meanwhile, has filed suit against United States Drug Enforcement Administration to lift restrictions keeping the company from distrusting controlled substances from a Jupiter, FL, facility that was deemed unsafe, according to a Bloomberg News report. Walgreens claims the DEA has no basis for its action.

“DEA has not made a single specific allegation regarding an improper shipment from the Jupiter facility or improper dispensing of a controlled substance by a Walgreens pharmacy serviced by the Jupiter facility this year, much less in recent months,” Walgreens said in the filing reported by Bloomberg.

When Massachusetts Mutual Insurance Company arrives in Illinois, the Hoopis Financial group of Deerfield will be it sole agent in the state, according to Sacramento Bee. The local agency is led by Peter Hoopis of Lake Forest who has a solid background in financial services.

To better keep up with Deerfield news, follow Patch on Twitter and Facebook.

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