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Baxter Reports Solid First Quarter Financial Results and Raises Full-Year Outlook
Date:4/17/2008

quarter with revenues totaling $1.2 billion, an increase of 13 percent, reflecting strong double-digit sales growth across all product categories. Driving this performance was robust growth from several products used for the treatment of hemophilia and immune disorders, including ADVATE [Antihemophilic Factor (Recombinant), Plasma/Albumin-Free Method (rAHF-PFM)] and immune globulin intravenous (IGIV), as well as solid growth from other plasma-based therapies, biosurgery products and vaccines.

Medication Delivery sales grew 8 percent in the quarter to $1.1 billion, with strong global sales of intravenous and nutritional therapies, and significant growth in international sales of anesthesia products and injectable drugs. Renal sales increased 6 percent to $558 million.

Baxter's investment in research and development of $190 million increased 19 percent in the first quarter as the company continues to advance its product pipeline across its business portfolio.

"Our strong and improving financial position reflects the continuing momentum in our business," said Robert L. Parkinson, Jr., chairman and chief executive officer. "Our favorable outlook for the full year allows us to continue to accelerate our investments in research and development programs that will improve treatment for patients, expand access to care and enhance the quality of life for people around the world."

Since the beginning of the year, Baxter has achieved a number of commercial, clinical and regulatory milestones, including:

-- U.S. Food and Drug Administration (FDA) approval of ARTISS [Fibrin

Sealant (Human)], the first and only slow-setting fibrin sealant

indicated for use in adhering skin grafts in adult and pediatric burn

patients.

-- The launch of GELFOAM (R) Plus Hemostasis Kit (absorbable gelatin

sponge, USP and human thrombin), which is indicated as a hemostatic

device for surgical procedures when c
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SOURCE Baxter International Inc.
Copyright©2008 PR Newswire.
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