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Financial Report: Baxter

July 17, 2014

Revenues up 16% in the quarter

Baxter
 
2Q Revenues: $4.3 billion (+16%)

2Q Earnings: $520 million (-12%)

YTD Revenues: $8.2 billion (+15%)

YTD Earnings: $1.1 billion (-6%)

Comments: BioScience revenues were up 7% to $1.8 billion in the quarter, led by double-digit growth of ADVATE and albumin, as well as increased global demand for GAMMAGARD LIQUID, biosurgery products and select vaccines. Medical Product sales were $2.5 billion, up 24%, driven primarily by strong sales of injectable drugs, anesthetics and nutritional therapies, as well as gains in peritoneal dialysis patients, particularly in the U.S. and emerging markets. Results include after-tax special items totaling $172 million, primarily for amortization and costs associated with revenue and product development milestones, remediation efforts for the in-progress SPECTRUM Infusion Pump recall, integration of Gambro AB, and Baxter’s planned separation into two independent healthcare companies.

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