Summary
Baxter International Inc. is a Deerfield-based maker of medical products. Long known for its medication delivery devices -- it developed the first commercially manufactured intravenous solutions-- Baxter has been an innovator in the health-care industry since it was founded in 1931. Today, Baxter's businesses, which generate more than $10 billion in annual sales, are divided among biosciences, medication delivery devices and treatments and products to treat kidney disease and related problems. Unlike traditional pharmaceutical companies that make pills and tablets, Baxter earns its prowess largely from its ability to manufacture complex injectable drugs such as vaccines, genetically engineered blood therap...
Baxter International Inc. is a Deerfield-based maker of medical products. Long known for its medication delivery devices -- it developed the first commercially manufactured intravenous solutions-- Baxter has been an innovator in the health-care industry since it was founded in 1931. Today, Baxter's businesses, which generate more than $10 billion in annual sales, are divided among biosciences, medication delivery devices and treatments and products to treat kidney disease and related problems. Unlike traditional pharmaceutical companies that make pills and tablets, Baxter earns its prowess largely from its ability to manufacture complex injectable drugs such as vaccines, genetically engineered blood therapies to treat immune deficiencies, and stem-cell-derived treatments. In recent years, Baxter has worked with Northwestern University heart researcher Dr. Douglas Losordo on a method of injecting stem cells directly into the heart in hopes of rebuilding heart tissue and reversing the course of severe heart failure. Baxter hopes to one day offer an alternative to the 1940s egg-based technique of manufacturing vaccines, which is more time-consuming and not as consistent in its yields. Baxter is in the late stages of experimentation on its so-called cell-based vaccine development for seasonal influenza and the H5N1 Avian flu virus, also known as bird flu. In 2004, Robert Parkinson, a former president of Abbott Laboratories and Loyola University Chicago business school dean, replaced longtime Baxter finance executive Harry Kraemer. He resigned after a series of financial missteps, including the inability to get a handle on the company's financial guidance. Under Parkinson, Baxter has made a series of financial improvements, fully funding the company's pension and increasing what the company spends on research and development to unprecedented levels. The company's most lucrative division, biosciences, features top-selling blood therapies such as a clotting drug known as Advate. Baxter operates a division that sells medication-delivery devices, and it contracts manufacturing for some of the world's largest biotechnology and pharmaceutical companies.
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Baxter profit up 26% on strong biotech sales
Tribune staff reporterBaxter International Inc. shares are up, after the Deerfield medical-products giant reported a stronger-than expected 26 percent increase in second-quarter earnings. Paced by an ongoing surge in its bioscience business, the had net income in the latest...Tags: Sales, Deerfield, Currency Values, Instrument Engineering, Earnings
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Inflation, oil send costs of medical supplies soaring
Chicago Tribune reporterInflation is racing through the economy at a pace not seen in years, touching even the medical gloves used by hospitals, as manufacturers cope with high oil prices. The cost of living in June shot up at the fastest rate in 17 years, with the Labor...Tags: Pharmaceuticals, Energy Saving, Prices, Lake Forest, Clothing Accessories
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Baxter's profit jumps 26%
Chicago Tribune reporterBaxter International Inc. shares moved to a 52-week high Thursday after the Deerfield medical-products giant reported a stronger-than expected 26 percent increase in second-quarter earnings. Paced by continued strength in its bioscience business, Baxter...Tags: Sales, Deerfield, Earnings, Illinois Tool Works Incorporated, New York Stock Exchange
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Who gave big at city's Olympics fundraiser
Tribune staff reporterThe Chicago 2016 bid team's fundraising event at Millennium Park was a two-tiered event Monday evening. Big-time donors in suits and sundresses mingled at a cocktail reception and sit-down dinner while boosters and tourists in shorts and T-shirts...Tags: Corporations, Navigant Consulting Incorporated, Multi-Sport Events, J.P. Morgan Chase & Co., Employees
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The week ahead
Monday Earnings Genentech Inc.; M&T Bank Corp.; Novellus Systems Inc. Tuesday Reports June Producer Price Index; June retail sales; May business inventories Earnings Altera Corp.; Cintas Corp.; CSX Corp.; Eaton Corp.; Intel Corp.; Johnson & Johnson;...Tags: Genentech Incorporated, Manpower Incorporated, Economy, Eaton Corporation, Consumer Confidence
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Another day, another deal
Chicago Tribune correspondentEnticed by a weak dollar and strong growth prospects for the generic drug business in the U.S., a German drug company agreed Monday to purchase APP Pharmaceuticals Inc. of Schaumburg for $4.6 billion. The move by generic drug-maker Fresenius SE is the...Tags: Health Organizations, Northwestern University, Anheuser-Busch Companies Incorporated, Deerfield, Mergers, Acquisitions and Takeovers
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Deaths linked to blood thinner heparin increase to 149
The blood thinner heparin has been linked to 149 U.S. deaths in people who had allergic reactions after taking it, U.S. regulators said. The new tally, posted Monday on the Food and Drug Administration's Web site, expands the toll of people who took...Tags: Health Organizations, Deerfield
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Dead zone to expand
Researchers predict a "dead zone" of oxygen-depleted waters off the Louisiana and Texas coasts could grow this summer to 10,084 square miles, making it the largest such expanse in at least 23 years. If the preliminary forecast holds, the size of the Gulf...Tags: Medicine, Pharmaceuticals, Diseases, NASA, Preventative Medicine
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Business Briefing
AUTOS GM, Ford to export more cars to China General Motors Corp. and Ford Motor Co. agreed to export more North American-built vehicles and parts to China in separate agreements signed in Washington. GM said it would sell and export $1 billion worth...Tags: Human Rights, Business Enterprises, Ford Motor Co., Vehicles, Ford
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Heparin fix leads to new concerns
Sun reporterEfforts to make the blood thinner heparin safer - and to replace supplies that were depleted by a major recall this year - have meant unintended and fresh safety concerns for hospitals, heart clinics and dialysis centers that use it. The drug, a staple...Tags: Health Organizations, Medicine, Pharmaceuticals, Michael Cohen, Medical Staff
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Jun 17, 2008
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Jun 13, 2008
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May 15, 2008
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