Baxter International Q3 net income $583 mln
Illinois-based Baxter International Inc has reported third quarter net income of $583 million or $1.06 per diluted share, as compared with net income in the same period last year of $576 million, or $1.01 per diluted share.
This reflects an increase of 5% on a per share basis. American healthcare company’s third quarter 2012 financial results included an after-tax research and development charge of $45 million or $0.80 per diluted share associated with the company’s recently announced European licensing pact with Onconova Therapeutics, Inc.
The financial results from the third quarter 2011 included an after-tax charge of $48 million (or $0.80 per diluted share). On an adjusted basis, excluding special items from both periods, Baxter’s third quarter net income of $628 million rose 1% from $624 million reported in 2011.
The adjusted earnings per diluted share of $1.14 surged 5% from $1.09 per diluted share last year and was in line with the guidance the company previously provided of $1.12 to $1.14 per diluted share.
The worldwide sales totaled $3.5 billion, which were comparable to revenues generated in the third quarter last year. Its sales advanced 5%.
Besides, sales within U.S. of $1.5 billion accelerated 8% while international sales of $2.0 billion declined 5%. Apart from the impact of foreign currency, the international sales rose 2% as strength across many countries in Asia Pacific and Latin America offset continued softness in the mature European markets.
The BioScience revenues rose $1.5 billion were similar to sales in the prior-year period. The BioScience revenues increased 5%, driven by double-digit growth in the U.S. across all the key product categories.
The company also benefited from the recent acquisitions of Synovis Life Technologies, generating incremental sales in the quarter of approximately $20 million.
The medical products sales of $2.0 billion were also in line with the prior-year period.
The medical products revenues also rose 4% resulting from strong growth of injectable drugs, anesthesia products and nutritional therapies and the advantage of the company’s acquisition of Baxa Corporation, with incremental sales totaling of more than $40 million.
Robert L Parkinson, Junior Chairman and Chief Executive Officer said, “The solid underlying fundamentals of our businesses continue to be supported by the medically-necessary nature of our portfolio and therapies, growing global demand and our broad global presence.”
Mr. Parkinson also said, “In addition, our company’s strong financial position provides continued flexibility to invest in innovation, advance our new product pipeline, and pursue new business development opportunities to enhance future growth.”
Baxter International Inc is an American health care company based in Deerfield, Illinois. It primarily focuses on products to treat hemophilia, kidney diseases, immune disorders and other chronic and acute medical conditions.
Dexcom: changing the lives of people with type 1 diabetes
It is estimated that 9.3% of adults around the world are living with type 1 diabetes, which amounts to a total of 463 million people. A further 1.1 million children and adolescents under the age of 20 are living with the condition.
Unlike the more prevalent type 2 diabetes, where the body still produces insulin and symptoms develop slowly, people with type 1 diabetes need regular insulin injections or pumps, and must monitor their sugar levels frequently.
In recent years a number of remote glucose monitoring systems have become available that patients can use at home. These work with a sensor, usually placed under the skin, that measures glucose levels every few minutes. This information is then transmitted wirelessly to a device like a smartphone or tablet, which can then be shared with their clinician.
British actress Nina Wadia's son Aidan, 14, has type 1 diabetes, and has been managing his condition using Dexcom, a glucose monitoring system used by patients all over the world. Here Wadia explains how Dexcom has improved their lives.
As a parent of someone with type 1 diabetes, what is your day-to-day life like?
Being able to take a breath, think and pivot constantly without getting frustrated becomes an essential mindset because sometimes it feels like each day is determined to be different from the day before. Whatever worked yesterday is going to misfire today.
Which areas of yours and Aidan’s life are most impacted by diabetes?
The one thing that you have to fight hard to reclaim is spontaneity, especially when it comes to food and exercise. It’s only when this is taken do you realise how essential each one is. You can be flexible and there are no real limits, but only in the sense that a great athlete can be flexible without limits because they’ve trained super hard to be that way. So we’ve all had to become athletes when it comes to being spontaneous.
How has Dexcom helped you and Aidan?
Dexcom has brought future science fiction to real life today. The continuous glucose monitoring system is tiny, sits discreetly on his body and gives him a ten-day breather between sensor changes, so it's goodbye finger-pricking seven times daily.
Dexcom is totally active at a grass roots level and for Diabetes Awareness has pledged to donate £2,000 if #DexcomDiabetesStories and/or #DexcomWarriorStories is shared 200 times! I’ll be sharing more on social media and would love to hear how other families are winning their fights.
Maybe most importantly Dexcom is trying to introduce a reimbursement programme for type 1 diabetes patients which will give greater access to modern, life changing hi-tech. I want to spread the word on the importance of accessing it through this campaign.
If you compared your life today with how it was before Aidan was using Dexcom, what has changed?
It's always working, which lets him take his mind off diabetes for longer stretches. It also lets me get off his back. We both receive alerts so I no longer have to pester him by asking him what his number is, and especially importantly, I don’t have to wake him at night to prick his finger if I’m worried. Dexcom gave us back our sleep!