Baxter International net profit declined by 14 per cent during the third
quarter ended September 2014 to $468 million from $544 million in the
corresponding period of last year despite its net sales improved by 13
per cent to $4,197 million from $3,710 million.
These results reflect the income contribution from the vaccines franchise of $21 million and after-tax special items totaling $273 million primarily for intangible amortization and costs associated with upfront and product development milestone payments, integration of the company's acquisition of Gambro AB, and Baxter's planned separation.
Sales within the United States of $1.8 billion rose 7 per cent, while international sales of $2.4 billion increased 18 per cent. Including discontinued vaccines revenues, Baxter's global sales advanced 13 per cent to $4.3 billion and when also adjusting both periods for the contribution of Gambro, Baxter's sales rose 5 per cent, which was at the higher-end of the company's previously-issued guidance. Foreign currency did not have a material impact on sales growth in the quarter.
BioScience revenues of $1.7 billion grew 8 per cent from the prior-year period driven primarily by double-digit growth and continued strong demand for the company's hemophilia therapies, including ADVATE [Antihemophilic Factor (Recombinant), Plasma/Albumin-Free Method] and FEIBA (an inhibitor therapy), as well as the benefit from government collaborations and the timing of international tenders. BioScience sales, including vaccines, rose 7 per cent.
These results reflect the income contribution from the vaccines franchise of $21 million and after-tax special items totaling $273 million primarily for intangible amortization and costs associated with upfront and product development milestone payments, integration of the company's acquisition of Gambro AB, and Baxter's planned separation.
Sales within the United States of $1.8 billion rose 7 per cent, while international sales of $2.4 billion increased 18 per cent. Including discontinued vaccines revenues, Baxter's global sales advanced 13 per cent to $4.3 billion and when also adjusting both periods for the contribution of Gambro, Baxter's sales rose 5 per cent, which was at the higher-end of the company's previously-issued guidance. Foreign currency did not have a material impact on sales growth in the quarter.
BioScience revenues of $1.7 billion grew 8 per cent from the prior-year period driven primarily by double-digit growth and continued strong demand for the company's hemophilia therapies, including ADVATE [Antihemophilic Factor (Recombinant), Plasma/Albumin-Free Method] and FEIBA (an inhibitor therapy), as well as the benefit from government collaborations and the timing of international tenders. BioScience sales, including vaccines, rose 7 per cent.
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