Baxter books positive Q3

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Baxter International has positive financial results for the third quarter of 2009, which ended Sept. 31.

The Deerfield, Ill.-based company said its net income grew 12 percent to $530 million from $472 million reported in the third quarter of 2008. The third quarter results include after-tax special charges totaling $69 million (primarily for fixed asset write-offs related to the discontinuation of the company’s Solomix drug delivery system in development, and planned retirement costs associated with the Syndeo PCA syringe pump). The company recorded after-tax special charges in the third quarter of 2008 totaling $91 million.

Global sales of $3.1 billion were flat compared to the third quarter last year, Baxter said. Excluding the impact of foreign currency, worldwide sales increased 6 percent. U.S. sales increased 5 percent to $1.3 billion in the third quarter, while international sales declined 4 percent to $1.8 billion. Excluding the impact of foreign currency, Baxter said its international sales grew 7 percent.

Sales for the medication delivery unit were of $1.2 billion, representing an increase of 1 percent, according to the company. Renal sales of $576 million declined 3 percent. Contributing to these results was growth across multiple product categories, including products used in peritoneal dialysis treatment, intravenous therapies, injectable drugs and anesthesia products.