Financial Report: Baxter 1Q

Baxter

1Q Revenues: $3.8 billion (-2%)
 
1Q Earnings: $430 million (-23%)
 
Comments: Sales in the U.S. grew 4% to $1.7 billion, while international sales were $2.1 billion, down 6%. Excluding the impact of foreign currency, Baxter’s sales grew 4% in the quarter. Baxter’s BioScience business generated revenues of $1.4 billion, up 2% driven by immunoglobulin treatments for primary immunodeficiency (PI), hemophilia and inhibitor therapies, and certain biotherapeutics. Medical Products sales were $2.4 billion, down 5%. Excluding foreign currency, sales increased 2%. Results include separation-related costs of $117 million for the planned separation of Baxter’s biopharmaceutical and medical products businesses and charges of $18 million related to the integration of Gambro.