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Financial Report: Baxter

January 24, 2013

BioScience revenues up 7% in the quarter

4Q Revenues:
$3.8 billion (+4%)

4Q Earnings: $494 million (+7%)

YTD Revenues: $14.2 billion (+2%)

YTD Earnings: $2.3 billion (+5%)

Comments: BioScience revenues were $1.7 billion in the quarter, up 7%. U.S. sales were $1.6 billion, up 7%, driven by sales growth for Advate, and Gammagard Liquid, as well as other plasma-based therapeutics. International sales were up 2% to $2.2 billion. Medical Products sales were $2.1 billion, up 2%, driven primarily by gains in peritoneal dialysis patients in the U.S., as well as growth in intravenous therapies. Results in the quarter included special after-tax items of $206 million related to costs associated with settlement of certain U.S. pension obligations and business optimization initiatives.