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Thursday, January 24, 2013

Baxter profit up 7 pct, matches Street view, (NYSE: BAX)

Baxter International Inc on Thursday reported higher quarterly earnings as sales strengthened, especially in the United States, and forecast sales growth of 10 percent for 2013.Separately, Baxter said it had agreed to acquire an investigational hemophilia compound for an upfront payment of $50 million and additional payments of up to $20 million based on winning regulatory approvals in the United States and elsewhere.Baxter, a maker of blood therapy products, medical infusion pumps and equipment for kidney dialysis, said fourth-quarter net profit was $494 million, or 89 cents per share, up from $463 million, or 82 cents per share, a year earlier.Excluding one-time items, Baxter earned $1.26 per share, matching the average estimate on Wall Street, according to Reuters I/B/E/S.

Baxter International Inc. (Baxter) is a global, diversified healthcare company. Shares of BAX remained unchanged at $66.59. 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 0.