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Thursday, January 24, 2013

Baxter profit higher; sales seen rising 10 percent in 2013, (NYSE: BAX)

Medical device and bioscience company Baxter International Inc reported higher quarterly earnings on Thursday and forecast sales growth of 10 percent for 2013.Fourth-quarter sales were particularly strong in its bioscience business, which sells blood therapy products, including hemophilia treatments and plasma proteins, the company said. U.S. demand was especially robust.Baxter executives told a conference call that capacity constraints continue to limit production of plasma proteins.The company, which also makes medical infusion pumps and equipment used for kidney dialysis, said quarterly net profit was $494 million, or 89 cents per share, up from $463 million, or 82 cents per share, a year earlier.

Baxter International Inc. (Baxter) is a global, diversified healthcare company. Shares of BAX traded higher by 1.36% or $0.905/share to $67.50. In the past year, the shares have traded as low as $48.98 and as high as $69.00. On average, 3187280 shares of BAX exchange hands on a given day and today's volume is recorded at 1263908.