Baxter Profits Drop

First quarter profits fall for Deerfield-based Baxter, but worldwide sales are on the rise.

Deerfield-based Baxter Healthcare Corporation has reported first quarter financial results for 2013 have dropped from $588 million, or $1.04 per share this time last year, to $552 million or $1 per share. The result are in line with the company's previously issued guidance, according to a press release. "Baxter's global portfolio remains strong as we benefit from our focus on lifesaving therapies, achieve important new product milestones and make select investments to position our company for future success and accelerated growth," said Robert L. Parkinson, Jr., chairman and chief executive officer. First quarter 2013 results include after-tax special items totaling $29 million, or $0.05 per diluted share, primarily for deal-related costs …

• Photos (1)

Business Roundup: Baxter Buys Swedish Company for $4 Billion

Sales drop at Walgreens during November.

Deerfield based Baxter International reached an agreement to purchase Swedish dialysis equipment maker Gambro this week in a deal worth $4 billion, according to an article published on encn.com. They have been negotiating for a year. Some analysts claim Baxter is paying a premium price for a company it hopes will enable it to integrate its home dialysis equipment business with Gambro’s institutional products, according to a story on Istockanalyst. Get local news in a daily email from Patch. It's like getting a free newspaper. Learn more. “The price tag for Gambro is lofty and does add a new layer of integration risk to the (Baxter) story,” RBC Capital Markets analyst Glenn Novarro said in a statement quoted in the Istockanalyst story. The …

• Photos (1)

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 …

•  1 Comment
• Photos (1)

New Baxter Study to Help Heart Disease Treatment

Approximately 450 people at 50 sites to participate.

Deerfield based Baxter International will start a clinical research trial aimed at evaluating whether a person’s own stem cells can help the treatment of coronary artery disease, according to an article PipelineReview.Com. “The prospect of using a person’s own adult stem cells to restore and repair blood flow in CMI is a very exciting concept based on a biological regenerative approach,” Baxter’s Chief Science and Innovation Officer Norbert Riedel said. Approximately 450 people at 50 sites around the United States will be part of the study. Previous preclinical studies investigating these cells have shown an increase in capillary density and improved cardiac function.

• Photos (1)

Baxter Advances Alzheimer’s Drug

Drug in clinical phases treats mild to moderate cases.