-- An agreement with Halozyme Therapeutics, Inc. to apply Halozyme's
proprietary Enhanze(TM) Technology to the development of a subcutaneous
route of administration for Baxter's GAMMAGARD LIQUID(TM) 10% [Immune
Globulin Intravenous (Human)] (IGIV) (known as KIOVIG(TM) in Europe).
For patients using GAMMAGARD LIQUID 10% - currently administered
intravenously - subcutaneous administration with Enhanze Technology may
increase convenience and improve the dispersion of the therapy.
-- A collaboration with DEKA Research & Development Corp. and HHD, LLC for
the development of a next-generation home hemodialysis machine, to
further expand the company's leadership in home dialysis therapy.
-- A joint venture to produce and sell parenteral nutrition products in
China as Guangzhou Baxter Qiaoguang Healthcare Co. Ltd., based in
"We are very pleased with the quality of our financial performance overall, and in particular the ongoing strength of our cash flow," said Robert M. Davis, chief financial officer. "Our strong financial position allowed us the flexibility to invest in long-term growth through research and development and business development initiatives, as well as to increase our share repurchases in the quarter."
During the third quarter, Baxter repurchased 15.3 million shares of
common stock, for approximately $827 million. For the first nine months of
2007, the company repurchased a total of $1.6 billion in common stock, or
30.4 million shares. In addition, following the payment of the 2006 annual
dividend in January, Baxter reinstituted a quarterly schedule for payment
of dividends in April of this year and increased the annual dividend rate
|SOURCE Baxter International Inc.|
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