Baxter Hosts 2009 Investor Conference
CHICAGO-(Business Wire)-September 16, 2009 - At its Investor Conference today in Chicago, Baxter International Inc. (NYSE:BAX) will discuss its long-range financial objectives, growth opportunities and various research and development programs that highlight the company’s focus on innovation and value creation.
Baxter’s diversified business model, medically-necessary portfolio of life-saving products and therapies, and renewed focus on innovation have resulted in the achievement of record sales, earnings and cash flow and enhanced shareholder returns over the last several years. Baxter expects to build upon this success through continued optimization of its business portfolio, further geographic expansion, increased innovation and business development initiatives.
Over its five-year long-range plan period, Baxter expects to increase sales approximately 7 to 8 percent (excluding the impact of foreign currency), grow earnings per share in the 11 to 13 percent range, and generate strong annual cash flow of approximately $4 billion by the year 2014. The company also plans to continue focusing on innovation and expanding its robust pipeline by increasing investments in R&D at a compounded annual rate of at least 8 to 10 percent.
“We remain committed to transforming our culture to one with a sustained focus on innovation and demonstrating the value of our products and therapies through clinical differentiation,” says Robert L. Parkinson, Jr., chairman and chief executive officer. “We believe we have a balanced outlook and are well-positioned to achieve our results while making appropriate investments to enhance future growth and delivering value to shareholders.”
With an established track record of strong financial performance, the company has invested record levels in research and development, and Baxter anticipates this trend to continue. Today, scientists from across Baxter will highlight a number of R&D programs focused on products and therapies that have the potential to satisfy unmet clinical needs, expand patient access to vital treatments, advance standards of care and patient convenience, improve medical treatment, and reduce medication errors. Over the last 12 months, Baxter has initiated 14 Phase III clinical trials, and is advancing numerous earlier stage clinical trials of therapies that have the potential to profoundly impact the treatment and delivery of care for chronic diseases like Alzheimer’s, kidney failure, cardiovascular, diabetes, thrombotic thrombocytopenic purpura, multifocal motor neuropathy, as well as public health threats like pandemic and seasonal influenza.
In addition to increased investment in research and development, the company will continue to pursue business development opportunities that balance accelerating growth and ensure attractive returns. The company’s disciplined acquisition strategy is concentrated on clinically-differentiated businesses and product areas that leverage the company’s core strengths or are in areas adjacent or complementary to therapies and technologies that currently exist within the company.
“We remain focused on delivering growth and achieving our long-term objectives,” says Robert M. Davis, corporate vice president and chief financial officer. “Our financial performance and disciplined approach toward capital allocation allow us to provide an attractive return to our shareholders while expanding our innovative pipeline and global presence.”
A webcast of Baxter’s 2009 Investor Conference can be accessed live from a link on the company’s website at www.baxter.com beginning at 8:00 a.m. CDT on September 16, 2009. A replay of Baxter’s 2009 Investor Conference and accompanying presentation materials can be accessed from a link on the company’s website at www.baxter.com beginning September 17, 2009. Please visit Baxter’s website for more information regarding this and future investor events and webcasts.
Baxter International Inc., through its subsidiaries, 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 and acute medical conditions. As a global, diversified healthcare company, Baxter applies a unique combination of expertise in medical devices, pharmaceuticals and biotechnology to create products that advance patient care worldwide.
This release includes forward-looking statements concerning the company’s financial results, R&D programs, product pipeline and outlook for 2009 and beyond. The statements are based on assumptions about many important factors, including the following, which could cause actual results to differ materially from those in the forward-looking statements: demand for and market acceptance risks for new and existing products, such as ADVATE, and other technologies; future actions of regulatory bodies and other governmental authorities, including the FDA and foreign counterparts, that could delay, limit or suspend product development, manufacturing or sales or result in sanctions; product quality or patient safety concerns leading to product recalls, withdrawals, launch delays, litigation, or declining sales; product development risks, including satisfactory clinical performance, the ability to obtain necessary regulatory approvals and to manufacture at appropriate scale, and the general unpredictability associated with the product development cycle; inventory reductions or fluctuations in buying patterns by wholesalers or distributors; the impact of geographic and product mix on the company's sales; the impact of competitive products and pricing, including generic competition, drug reimportation and disruptive technologies; reimbursement and rebate policies of government agencies and private payers; changes in healthcare legislation and regulation, including through healthcare reform in the United States or globally, which may affect pricing, reimbursement or other elements of the company’s business; any changes in law concerning the taxation of income, including income earned outside the United States; the availability of acceptable raw materials and component supply; the ability to enforce company patents; patents of third parties preventing or restricting the company’s manufacture, sale or use of affected products or technology; any impact of the commercial and credit environment on Baxter and its customers and suppliers; foreign currency fluctuations and other risks identified in the company’s most recent filing on Form 10-K and other Securities and Exchange Commission filings, all of which are available on the company's website. The company does not undertake to update its forward-looking statements.
 |
 |
 |
|
||
 |
|
 |
|
||
Search Our News Using Google Search
Can't find what you want? Try using Google:
