Baxter (NYSE:BAX) shares were up today after the company reported preliminary net sales for the fourth quarter of fiscal 2019 that topped the Wall Street consensus. The Deerfield, Ill.-based company posted net sales of $3 billion for the fourth quarter, marking 7% growth on a reported basis and 9% growth on an operational basis. That number […]
Baxter spending $350m to acquire surgical adhesion barrier tech from Sanofi
Baxter (NYSE:BAX) said today that it will buy the Seprafilm adhesion barrier and related assets from Sanofi (NYSE:SNY) in what is expected to be a $350 million deal. The purchase is expected to close no later than the first quarter of 2020. A Bloomberg report in October hinted that a deal might be in the work. “While […]
Baxter gets filing deadline from stock exchange
The New York Stock Exchange notified Baxter (NYSE:BAX) on Friday that the company has until May 20, 2020 to file its third-quarter financial report and any subsequent delayed filings to regain compliance with exchange’s listing standards. The Deerfield, Ill.–based healthcare products company announced Nov. 15 that it was conducting an internal probe into its foreign […]
Baxter delays quarterly report amid internal accounting investigation
Baxter (NYSE:BAX) announced today in an SEC filing that it will have to delay reporting its third-quarter financial results as it continues an internal probe into its foreign exchange trading practices. The Deerfield, Ill.–based healthcare products company said it was unable to predict when it would file its Form 10-Q for the quarter ended Sept. […]
Baxter, Ayogo launch digital education tool for kidney disease patients
Baxter (NYSE:BAX) and Ayogo Health Inc. announced today that they are launching the pilot of CKD&Me, a smartphone app that tailors educational content to chronic kidney disease patients’ learning needs, in several nephrology practices across the U.S. CKD&Me is designed to supplement education programs provided by nephrologists and their teams by offering pre-dialysis education for patients […]
Baxter slumps on internal accounting probe
Share prices slumped today for Baxter (NYSE:BAX) after the healthcare giant revealed an internal probe into its foreign exchange trading practices dating back five years. The Chicago-area company said it’s tapped outside lawyers and consultants to assist with an investigation into intra-company trades designed to create foreign exchange gains or losses. “These transactions used a foreign […]
Report: Sanofi is shopping SepraFilm unit to Baxter
Sanofi (NYSE:SNY) is said to be in advanced talks with BAX to sell its Seprafilm surgical products business for up to $400 million. SepraFilm is designed to prevent adhesion after abdominal surgeries. The French drugmaker, which acquired SepraFilm in 2011 when it paid $20.1 billion for Genzyme, wants to close the deal “with the next few […]
Baxter shifts $2B in pension obligations to insurer
Baxter (NYSE:BAX) this month moved to shift more than $2 billion in pension obligations to some 17,000 retired and former employees off of its books by inking an annuity plan with Prudential Insurance. The Chicago-area healthcare giant said it plans to use assets from the ex-workers’ plan, which it split last year from the existing pension […]
Baxter touts Sharesource home dialysis study
Baxter (NYSE:BAX) said today that patients treated with automated peritoneal dialysis cyclers and its Sharesource remote patient management platform showed significant reductions in hospitalization rates and hospitalization days. The results of a study comparing peritoneal dialysis patients managed with Sharesource to those not using the remote platform at home showed a 39% reduction in hospitalizations for […]
The 20 largest medical device companies in the world
Consolidations continue to transform the roster of largest medical device companies in the world — as evidenced by the latest Big 100 list at our sister site Medical Design & Outsourcing. Overall, Big 100 companies saw $397.5 billion in sales during their most recent fiscal years, up 3.5% from the previous year. As companies continue to […]
Baxter puts up $230m for Cheetah Medical
Baxter (NYSE:BAX) said today that it plans to acquire non-invasive hemodynamic monitoring technologies provider Cheetah Medical for a price that could exceed $200 million. Deerfield, Ill.-based Baxter said will pay $190 million for Cheetah Medical upfront, with the potential for an additional $40 million based on clinical and commercial milestones. The acquisition will provide Baxter with […]
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