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Baxter International Inc (BAX)

  • Sep. 25, 2013, 2:00 PM
    • Shares of Baxter (BAX -6.1%) trade notably lower on heavy volume after a JPMorgan initiation at Neutral.
    • Citing a survey of "50 hematologists caring for more than 15% of the U.S. market," JPM says the hemophilia drug space is set to get more competitive.
    • More patients may begin switching to long-lasting clotting factor therapies like Biogen's (BIIB -0.2%) Eloctate.
    • Price target is $76.
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  • Sep. 6, 2013, 12:29 PM
    • Baxter (BAX +0.7%) has completed its acquisition of Gambro, a privately held global medical technology company based in Lund, Sweden.
    • The total price tag on the deal was $3.9B, which was included in its Q3 and FY13 guidance.
    • The acquisition gives BAX the opportunity to build upon its core portfolio and pipeline of investigational home hemodialysis and automated PD systems by adding Gambros dialyzers, devices and dialysis solutions, next-generation monitors, and acute therapies to treat patients with serious kidney, liver and lung conditions.
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  • Aug. 13, 2013, 8:00 AM
    • China's Ministry of Commerce has authorized Baxter's (BAX) $4B acquisition of Sweden's Gambro on the condition that Baxter divests its global continuous renal replacement therapy business, which accounts for 2% of its renal product sales.
    • The EU also demanded the sale of the unit when it approved the Gambro deal.
    • As part of the authorization in China, Baxter must end an outsourcing production deal in the country with Japan's Nipro by March 31, 2016.
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  • Jul. 31, 2013, 10:12 AM
    • Baxter (BAX -0.1%) enters into an exclusive distribution and license agreement with JW Holdings for parenteral nutritional products containing a formulation of omega 3 lipids.
    • Under the terms of the agreement, BAX will have exclusive rights to co-develop and distribute the products globally, with the exception of Korea.
    • The arrangement includes a $25M up-front payment that will be recorded as a special pre-tax in-process R&D charge in Q3, as well as payments totaling up to $10M for the achievement of certain regulatory milestones, along with royalties on future product sales.
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  • Jul. 23, 2013, 5:49 PM
    Baxter International Inc (BAX) declares $0.49/share quarterly dividend, in line with prior. Forward yield 2.64%. For shareholders of record Sept. 6. Payable Oct. 1. Ex-div Sept. 4. (PR)
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  • Jul. 22, 2013, 7:51 AM
    Baxter (BAX) is reportedly being investigated for potential malpractice at its Chinese JV, Baxter Qiaoguang Pharmaceutical. The probe could relate to payments made to ensure that Baxter's ClinOleic treatment is on the list of products that can be claimed on national insurance in China. The inquiry adds to the investigation into GSK and a possible probe into AstraZeneca.
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  • Jul. 18, 2013, 8:04 AM
    More on Baxter's (BAX) Q2: Global sales rise 3% Y/Y reflecting 3% revenue growth in the U.S. and internationally. Bioscience revenues come in at $1.6B, up 5% Y/Y as the company says demand for Advate and FEIBA is strong. Medical products revenues manage a 1% Y/Y gain (2% ex-currency impact) driven by "gains in peritoneal dialysis patients." Q3 guidance: $1.18-1.21/ share before items on sales growth of 9-12%, a figure that includes the Gambro acquisition and accounts for FX effects. For the full year, management sees EPS of $4.62-4.70 on sales growth of 7-8%. (PR)
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  • Jul. 18, 2013, 7:03 AM
    Baxter (BAX): Q2 EPS of $1.16 beats by $0.03. Revenue of $3.67B misses by $0.03B. (PR)
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  • Jul. 18, 2013, 12:05 AM
    Notable earnings before Thursday’s open: AN, APH, BAX, BBT, BLK, BPOP, BX, CHKP, CY , CYS, DGX, DHR, DOV, ERIC, FCS,FITB, GPC, HBAN, HLSS, JCI, KEY, MS, NOK , NUE, OMC, ORB, PM, PPG, SAP, SHW, SNA, SON, SVU, SWY, TSM, TZOO, UNH , UNP, VZ
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  • Jul. 17, 2013, 5:30 PM
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  • Jul. 15, 2013, 12:17 PM
    Here's a quixotic twist: It appears that battling certain types cancer may lower the risk for developing Alzheimer's disease, new research suggests. After pouring over data, investigators have concluded that most kinds of cancer - with the exception of prostate cancer - seem to confer some degree of protection against Alzheimer's, reducing risk of the age-related brain disorder by anywhere from 9% to 51%. They've also linked a common form of cancer treatment, chemotherapy, to a lower risk for developing Alzheimer's-related dementia.
  • Jul. 11, 2013, 7:24 AM
    EU antitrust regulators are reportedly set to authorize Baxter's (BAX) $4B acquisition of Sweden's Gambro after the U.S. firm offered to sell its global continuous renal replacement therapy operations, which account for approximately 2% of its renal product sales. Baxter has made the same offer to authorities in Australia and New Zealand. Acquisition of Gambro would turn Baxter into the second-largest manufacturer in the dialysis market. The EU is due to decide on the deal on July 22.
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  • Jul. 10, 2013, 2:23 PM
    Credit Suisse initiates Baxter International (BAX +0.2%) at Outperform with an $81 price target (a 13% premium to Tuesday's close) citing "solid top-line growth, dividend prospects, [and] in line valuation." Analyst Bruce Nudell's price target assumes an 8.5% weighted average cost of capital and a 1.5% terminal growth rate.
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  • Jul. 5, 2013, 3:29 AM
    China's National Development & Reform Commission is investigating the costs and prices of 60 pharmaceutical companies, including those of major foreign firms Merck (MRK), Novartis (NVS) and Baxter (BAX), as well as of GlaxoSmithKline (GSK). The probe is the latest in a series of audits by the commission - which fixes an upper "ceiling" price for patented and generic drugs that the government pays for - and could herald price cuts. (see also)
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  • Jul. 2, 2013, 8:46 AM
    Baxter (BAX) presents the results of two studies that confirm the safety and efficacy of the company's approved Advate drug for hemophilia A. One post-marketing analysis, which looked at 1,200 patients in 15 countries, supports Advate's low inhibitor rate and the effectiveness of its bleed prevention. The other research, an analysis of 12 clinical trials, affirmed the drug's safety profile. (PR)
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  • Jun. 27, 2013, 9:33 AM
    The FDA approves Baxter's (BAX +0.3%) Rixubis treatment for adults with hemophilia B, including for use as a preventative measure, for control of bleeding episodes, and for perioperative management, when patients are having surgery. (PR)
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Company Description
Baxter International Inc is a healthcare company which develops, manufactures and markets products that save and sustain the lives of people with hemophilia, immune disorders, infectious diseases, kidney disease, trauma and other chronic.