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Financial Report: Baxter

April 17, 2014

Revenues up 15% boosted by Gambro acquisition


1Q Revenues: $4.0 billion (+15%)

1Q Earnings: $556 million (+1%)

Comments: BioScience revenues were $1.6 billion, up 5%, driven by growth of ADVATE and FEIBA, improved U.S. sales of plasma-based therapeutics including GAMMAGARD LIQUID, and milestone payments related to ongoing collaborations with governments on flu vaccine development. Medical Products sales increased 22% to $2.3 billion, augmented by the Gambro acquisition, which contributed $400 million. R&D expenses were $313 million up 27%.