Baxter International

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Baxter to buy specialty drug maker Prism

Baxter International Inc. said it will pay at least $170 million to buy a specialty drug maker that has high hopes for a heart drug used in hospitals to treat irregular heart beats. Get the full story »

Baxter CEO’s compensation falls 20% in 2010

Baxter International Inc. Chief Executive Robert L. Parkinson Jr. received compensation valued at $11.5 million in 2010, down 20 percent from the prior year amid a sharp reduction in his annual bonus and a tumultuous year for the medical-products company. Get the full story »

Pols want answers on Heparin contamination

Lawmakers scolded the FDA for still not knowing what or who was behind the contamination of the Baxter International’s blood-thinning drug Heparin, nearly three years after launching its investigation.

“It has been almost three years since the the FDA linked deaths and serious allergic reactions of patients to supplies of Heparin that came from China,“ Rep. Fred Upton (R-Mich.), wrote in a letter to FDA Commissioner Margaret Hamburg Wednesday. Upton said the House Energy and Commerce committee, which he chairs, will conduct its own probe into the matter. Get the full story »

Baxter declares 31-cent dividend

Drug and medical device maker Baxter International Inc. said Tuesday that its board declared a quarterly dividend of 31 cents per share.

The Deerfield-based company said the dividend is payable April 1 to shareholders of record as of the close of business March 10. Get the full story »

Baxter spent over $900,000 lobbying in 3Q

Drug and medical device maker Baxter International Inc. spent $930,000 to lobby on health-care related issues in the third quarter, according to a disclosure form. The company’s lobbying budget was down slightly from $950,000 in the previous quarter. In the prior-year period, Baxter spent slightly more than $1 million on lobbying. Get the full story »

EU regulator warns on Baxter dialysis solutions

The European Medicines Agency said on Friday that current stocks of Baxter International’s peritoneal dialysis solutions should be replaced because of the possibility of contamination. The regulator was informed by Baxter of the potential presence of endotoxins in Dianeal, Extraneal and Nutrineal — three sterile solutions used in patients who have to undergo dialysis because of kidney failure. Get the full story »

Baxter board OKs new $2.5B share buyback

Baxter International Inc. said its directors have approved a share repurchase program of up to $2.5 billion of the company’s common stock. Get the full story »

Baxter, Takeda expand egg-free vaccine venture

Baxter International Inc. said it has expanded a deal with Japan’s largest drug maker to bring its cell-based vaccine technology to that country.

The Deerfield-based medical product giant said terms of the agreement with Osaka, Japan-based Takeda Pharmaceutical Company Limited call for “Takeda and Baxter will expand upon their previously announced collaboration to bring Vero cell culture-based influenza vaccines to the Japanese market.” Get the full story »

Tampa drugmaker buys rights to Baxter cancer drug

A Tampa, Fla. company said it has purchased the rights to use a cancer drug made by Baxter International Inc. in its development of medicines to combat a “broad range of autoimmune diseases” including multiple sclerosis. Get the full story »

Baxter adds to hemophilia drug portfolio

Baxter International Inc. said Friday that it will pay as much as $285 million to buy a hemophilia drug candidate and other assets from privately held biotechnology company Archemix.
Get the full story »

Baxter selling generic injectables business for $112M

Baxter International Inc. announced the sale of its U.S. generic injectables business to Hikma Pharmaceuticals PLC for approximately $112 million, a move that will require Baxter to take an after-tax third-quarter special charge of $70 million, or 12 cents a share, to write down the assets of the business.

The sale involves Baxter’s high-volume, generic injectable products in vials and ampoules, which are sold primarily in the United States including chronic pain, anti-infective and anti-emetic products, along with the Cherry Hill, N.J., manufacturing facility, and a Memphis-area warehouse and distribution center. Approximately 750 employees who support the business will also transfer as part of the arrangement. Get the full story »

Baxter 3Q profit up 12%, raises outlook

Baxter International Inc. reported third-quarter profits up 12 percent on improved sales of medication delivery devices.

The Deerfield-based medical product giant reported profits of $595 million, or $1.01 per share, compared to $530 million, or 87 cents a share in the third quarter of 2009. Revenues rose 3 percent to $3.2 billion. Get the full story »

Baxter’s Arduini to leave for Integra

The departing head of Baxter International Inc.’s medication delivery business will become president and chief operating officer of a New Jersey based maker of orthopedic and neurosurgical devices and instruments. Get the full story »

Baxter International shakes up senior management

Baxter International Inc. Chief Executive Bob Parkinson shook up his management team, disclosing this afternoon the departure of two senior executives and a plan to combine the company’s renal and medication delivery businesses into a “single global unit.”

The move essentially turns Baxter into a company focused on two divisions: medical products and bioscience treatments. The medical products business will include medication delivery devices such as intravenous systems while the bioscience business will include drugs to treat immune system disorders and blood diseases such as its flagship drug Advate to treat people with hemophilia. Get the full story »

FDA issues warning to Baxter over drug promotion‎

Federal health regulators have issued a warning letter to Baxter International Inc. for exaggerating the benefits of its lung drug in brochures to physicians.

The Food and Drug Administration letter cites the Deerfield, Ill.-based company for making “misleading efficacy claims” in promotional materials for its drug Aralast.