Baxter International Inc. (NYSE:BAX) named Ludwig Hantson president of its international operations, effective May 3.
The Deerfield, Ill.-based medical products conglomerate said expanding its global footprint is a "key growth driver" for the company.
Hantson’s pedigree is stamped by years in the pharmaceutical industry. He was CEO of Novartis Pharmaceuticals Corp.’s (NYSE:NVS) Pharma North America division, having joined Novartis in 2001. Before that Hantson spent 13 years at Janssen Pharmaceutica in marketing and clinical R&D roles, according to a press release.
Baxter reported fourth-quarter sales of $3.47 billion, up 10.8 percent compared with $3.13 billion during the same period in 2008. Quarterly net income ticked up half a percent to $572 million, or 94 cents per diluted share, compared with $569 million or 91 cents per diluted share during Q4 2008. The results included a $56 million after-tax hit (9 cents per diluted share) from its move to streamline operations and reflected a 15 percent spike in international sales, after the effects of foreign exchange rates were factored in.
For the full year, Baxter logged sales of $12.56 billion, up 1.7 percent compared with $12.35 billion during 2008. Net income rose to $2.21 billion ($3.59 per diluted share) in 2009, a 9.5 percent increase over $2.01 billion ($3.16 per diluted share) during the prior year. International sales, excluding the impact of foreign currencies, rose 7 percent for the full year.
