Business Roundup: Baxter, Walgreens and Beam Make News

Baxter issues earnings report, Walgreens hires new executive and Beam takes a look at a foreign operation.

Deerfield based Baxter Healthcare Corporation reported increased quarterly earnings this week but not as much as originally projected, according to an article in the Chicago Tribune. Profits for the year are expected to follow the same pattern.

Net income jumped to $583 million, or $1.06 per share, from $576 million, or $1.01 per share, a year earlier, according to the Tribune. Analysts had anticipated earnings of $1.14 per share on revenue of $3.52 billion. Full year profits are now expected to be between $4.51 to $4.54 per share, compared with $4.49 to $4.57 in earlier projections.

Earlier: Business Roundup: Baxter Sees Long Term Growth

In other news from local businesses, Deerfield based Walgreens named Brad Fluegel its senior vice president and chief strategy officer, according to a report in Chain Store Age. He will oversee the corporate consulting team and work on venture capital projects, among other things.

Fluegel came to Walgreens from Health Evolution Partners. Before that, he was chief strategy and external affairs officer for Wellpoint, a health benefits business, according to Chain Store Age.

Deerfield based Beam, Inc., maker of Jim Beam, Canadian Club and other liquors, has asked employees at its operations in India to stay away from work during an internal investigation of possible violations of the U.S. Foreign Corrupt Practices Act, according to a story from Bloomberg.

“Based on a routine internal audit of operations in India, we are taking a closer look at the actions of certain individuals and practices in the India business,” Beam spokesperson Clarkson Hine said in the Bloomberg story. The company did not disclose further details.

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