Baxter Delivers Beat, Issues Recall

Amid earnings, Baxter is issuing a recall on its recently manufactured or upgraded Colleague triple-channel infusion pumps. Wednesday night the company announced that the Food and Drug Administration classified it as a Class I recall. Baxter said the error, which is related to a buffer overflow when data or commands are entered too quickly, is associated with 16 serious injuries in the U.S. that have been reported to the company.

The recall affects 4,500 triple-channel pumps distributed between May 14 and June 20.

"Patient safety is our top priority. We identified this error early on in our U.S. remediation process and have taken decisive action to replace these pumps and correct the situation to the satisfaction of our customers," said Peter Arduini, president of Baxter's medication delivery business. "We're currently evaluating a correction, which we will implement following completion of our testing and FDA review."

Baxter was down $2.55, or 4.4%, to $56.05, in recent trading Thursday morning.