This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
$1 buys you full access to ALL of TheStreet's Subscription Services! Learn More

Baxter Delivers Solid Financial Performance In Line With Guidance For Third Quarter 2012

Stocks in this article: BAX

Recent Highlights

Baxter continues to focus on enhancing growth by optimizing its core business portfolio, advancing the company’s new product pipeline, pursuing and accelerating the pace of business development initiatives, and capitalizing on the opportunity to develop new business models, which include public and private partnerships aimed at improving the quality of and access to care in both developed and emerging markets. Recent achievements reflect these priorities and include the following:

  • Baxter launched its new 4000 IU dosage strength of ADVATE, providing the convenience of a single vial dosing opportunity for many adult patients, including those patients on a dosing schedule of every three days for prophylactic treatment with ADVATE.
  • Baxter submitted a biologics license application (BLA) to the U.S. Food and Drug Administration (FDA) for approval of BAX 326, a recombinant factor IX (rFIX) protein being investigated for the treatment and prophylaxis of bleeding episodes for patients over 12 years of age with hemophilia B.
  • Baxter completed enrollment in the first study of the company’s home hemodialysis system. The study was designed to examine the performance and safety of the investigational device. The study was conducted in the United States and 24 patients were enrolled in the study during which 700 treatments were delivered to participants. Data will support the company’s submission for CE Mark in 2013.
  • The company began dosing patients with malignant solid tumors in a Phase I clinical trial of a monoclonal antibody, representing the company's efforts to extend its oncology portfolio with advanced biological research and development. The candidate is a fully-human, recombinant anti-MIF (anti-macrophage migration inhibitory factor) monoclonal antibody with potential to be a new therapeutic agent in treatment of cancer.
  • Baxter entered into a European licensing agreement with Onconova Therapeutics, Inc. for rigosertib, a novel targeted anti-cancer compound currently in a Phase III study for the treatment of a group of rare hematologic malignancies called Myelodysplastic Syndromes and in a Phase II/III study for pancreatic cancer.
  • Under the terms of an agreement with Momenta Pharmaceuticals, Baxter recently selected a third biosimilar for development, a monoclonal antibody for oncology designated as M511. This is in addition to the selection of M923 and M834 earlier this year, targeted for the treatment of autoimmune and other inflammatory disorders. Baxter and Momenta have the opportunity to develop up to six biosimilars through their partnership.
  • The government of Brazil announced the selection of Baxter as an exclusive partner for recombinant FVIII hemophilia treatments. The company is working closely with Brazilian authorities to finalize the agreement and enhance access to critical treatments and provide recombinant therapies to patients.

Outlook for Fourth Quarter and Full-Year 2012

For the fourth quarter of 2012, the company expects earnings of $1.24 to $1.27 per diluted share, before any special items, and sales growth of 5 to 6 percent excluding the impact of foreign currency (or 3 to 4 percent including the impact of foreign currency).

3 of 5

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,814.94 -2.96 -0.02%
S&P 500 2,067.03 -2.38 -0.12%
NASDAQ 4,758.2520 +3.36 0.07%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs