Enterprising Investor
9 years ago
Baxter Announces Final Results of Baxalta Exchange Offer (5/24/16)
DEERFIELD, Ill.--(BUSINESS WIRE)--Baxter International Inc. (NYSE: BAX) (''Baxter'') announced today the final results of Baxter’s previously announced offer to exchange up to 13,360,527 shares of common stock of Baxalta Incorporated (NYSE: BXLT) (''Baxalta'') owned by Baxter for shares of Baxter common stock. The exchange offer expired at 11:59 p.m., New York City time, on May 18, 2016. Under the terms of the exchange offer, for each share of Baxter common stock that was validly tendered and not validly withdrawn by a stockholder and that was accepted by Baxter pursuant to the exchange offer, subject to proration as described below, Baxter will deliver 1.1591 shares of Baxalta common stock to or at the direction of such tendering stockholder. As a result of the completion of the exchange offer, all 13,360,527 shares of Baxalta common stock owned by Baxter will be distributed to Baxter stockholders who validly tendered their shares in the exchange offer, and Baxter will not hold any shares of Baxalta common stock.
Because the exchange offer was oversubscribed, Baxter accepted only a portion of the shares of its common stock that were validly tendered and not validly withdrawn, on a pro rata basis in proportion to the number of shares tendered. Stockholders (excluding certain plan participants in Baxter savings plans) who beneficially owned ''odd-lots'' (less than 100 shares) of Baxter common stock and who validly tendered all of their shares and made the appropriate election were not subject to proration in accordance with the terms of the exchange offer. The final proration factor of 3.6178959 percent was applied to all other shares of Baxter common stock that were validly tendered and not validly withdrawn to determine the number of such shares that have been accepted from each tendering stockholder.
Based on the final count by the exchange agent, Computershare Trust Company, N.A., the final results of the exchange offer are as follows:
• Total number of shares of Baxter common stock validly tendered and not validly withdrawn: 283,708,484
• Shares tendered that were subject to proration: 282,398,761
• ''Odd-lot'' shares tendered that were not subject to proration: 1,309,723
• Total number of shares of Baxter common stock accepted for exchange: 11,526,638
The exchange agent is expected to deliver shares of Baxalta common stock as follows: (1) with respect to shares tendered through the Depository Trust Company (''DTC''), to the account of DTC on May 25, 2016, so that DTC can credit each applicable DTC participant (and such participant can credit its respective account holders promptly thereafter), and (2) with respect to shares tendered outside DTC, to the direct registered accounts of the respective holders by May 26, 2016. Payments in lieu of fractional shares of Baxalta common stock will be delivered after the exchange agent has aggregated all fractional shares and sold them in the open market. Shares of Baxter common stock tendered but not accepted for exchange will be returned to the tendering stockholder in book-entry form promptly after the final proration factor is announced.
For more information about the exchange offer, please contact the information agent, D.F. King.
About Baxter
Baxter International Inc. (NYSE: BAX) provides a broad portfolio of essential renal and hospital products, including home, acute and in-center dialysis; sterile IV solutions; infusion systems and devices; parenteral nutrition; biosurgery products and anesthetics; and pharmacy automation, software and services. Baxter’s global footprint and the critical nature of its products and services play a key role in expanding access to healthcare in emerging and developed countries. Baxter’s employees worldwide are building upon Baxter’s rich heritage of medical breakthroughs to advance the next generation of healthcare innovations that enable patient care.
http://www.businesswire.com/news/home/20160524006285/en/Baxter-Announces-Final-Results-Baxalta-Exchange-Offer
Enterprising Investor
9 years ago
Baxter Announces Preliminary Results of Baxalta Exchange Offer (5/19/16)
DEERFIELD, Ill.--(BUSINESS WIRE)--Baxter International Inc. (NYSE: BAX) (“Baxter”) announced today the preliminary results of Baxter’s previously announced offer to exchange up to 13,360,527 shares of common stock of Baxalta Incorporated (NYSE: BXLT) (“Baxalta”) that are currently owned by Baxter for shares of Baxter common stock. The exchange offer expired at 11:59 p.m., New York City time, on May 18, 2016. Under the terms of the exchange offer, for each share of Baxter common stock that is validly tendered and not validly withdrawn by a stockholder and that is accepted by Baxter pursuant to the exchange offer, Baxter will deliver 1.1591 shares of Baxalta common stock to or at the direction of such tendering stockholder.
According to the exchange agent, Computershare Trust Company, N.A., 304,329,090 shares of Baxter common stock were validly tendered and not validly withdrawn in the exchange offer, including 155,758,371 shares that were tendered by notice of guaranteed delivery. Baxter has accepted 11,526,638 of the tendered shares in exchange for the 13,360,527 shares of Baxalta common stock owned by Baxter and offered for exchange. Because the exchange offer was oversubscribed, Baxter accepted only a portion of the shares of its common stock that were validly tendered and not validly withdrawn, on a pro rata basis in proportion to the number of shares tendered. Stockholders (excluding certain plan participants in Baxter savings plans) who beneficially own “odd-lots” (less than 100 shares) of Baxter common stock and who have validly tendered all of their shares and made the appropriate election will not be subject to proration in accordance with the terms of the exchange offer. Following the completion of the exchange offer, all 13,360,527 shares of Baxalta common stock owned by Baxter will have been distributed to Baxter stockholders who validly tendered their shares in the exchange offer, and Baxter will not hold any shares of Baxalta common stock.
Based on the total number of shares of Baxter common stock reported to be validly tendered and not validly withdrawn prior to the expiration of the exchange offer, it is estimated that approximately 4 percent of the tendered shares of Baxter common stock will be exchanged, assuming all shares tendered by guaranteed delivery procedures are delivered under the terms of the exchange offer. This preliminary proration factor is subject to change based on the number of tendered shares that satisfy the guaranteed delivery procedures, as well as the number of “odd-lot” shares that are not subject to proration. Baxter expects to announce the final proration factor promptly following the expiration on May 23, 2016 of the guaranteed delivery period. Shares of Baxter common stock tendered but not accepted for exchange will be returned to the tendering stockholder in book-entry form promptly after the final proration factor is announced.
Promptly after the final proration factor is announced, the exchange agent will credit shares of Baxalta common stock for distribution in the exchange offer in book-entry form to accounts maintained by the Baxalta transfer agent for tendering stockholders who have validly tendered and not validly withdrawn their shares of Baxter common stock. Payments in lieu of fractional shares of Baxalta common stock will be delivered after the exchange agent has aggregated all fractional shares and sold them in the open market.
For more information about the exchange offer, please contact the information agent, D.F. King.
About Baxter
Baxter International Inc. (NYSE: BAX) provides a broad portfolio of essential renal and hospital products, including home, acute and in-center dialysis; sterile IV solutions; infusion systems and devices; parenteral nutrition; biosurgery products and anesthetics; and pharmacy automation, software and services. Baxter’s global footprint and the critical nature of its products and services play a key role in expanding access to healthcare in emerging and developed countries. Baxter’s employees worldwide are building upon Baxter’s rich heritage of medical breakthroughs to advance the next generation of healthcare innovations that enable patient care.
http://www.businesswire.com/news/home/20160519005723/en/Baxter-Announces-Preliminary-Results-Baxalta-Exchange-Offer
Enterprising Investor
9 years ago
Baxter Announces Final Exchange Ratio of 1.1591 for Baxalta Exchange Offer (5/17/16)
DEERFIELD, Ill.--(BUSINESS WIRE)--Baxter International Inc. (NYSE: BAX) (“Baxter”) announced today the final exchange ratio in connection with its previously announced offer to exchange up to 13,360,527 shares of common stock of Baxalta Incorporated (NYSE: BXLT) (“Baxalta”) that are currently owned by Baxter for shares of Baxter common stock.
For each share of Baxter common stock that is validly tendered and not validly withdrawn by a stockholder and that is accepted by Baxter pursuant to the exchange offer, Baxter will deliver 1.1591 shares of Baxalta common stock to or at the direction of such tendering stockholder.
Based on the final exchange ratio, Baxter will accept for exchange 11,526,638 shares of its common stock if the exchange offer is fully subscribed. Because the exchange offer will be subject to proration if the exchange offer is oversubscribed, the number of shares of Baxter common stock accepted in the exchange offer may be fewer than the number of shares tendered.
The exchange offer and withdrawal rights are scheduled to expire at 11:59 p.m., New York City time, on Wednesday, May 18, 2016, unless the exchange offer is extended or terminated. Accordingly, Baxter stockholders may tender or withdraw their shares of Baxter common stock until that time by following the procedures described in the prospectus and related letter of transmittal. The completion of the exchange offer is subject to certain conditions as set forth in the prospectus.
For more information about the exchange offer, please contact the information agent, D.F. King.
About Baxter
Baxter International Inc. (NYSE: BAX) provides a broad portfolio of essential renal and hospital products, including home, acute and in-center dialysis; sterile IV solutions; infusion systems and devices; parenteral nutrition; biosurgery products and anesthetics; and pharmacy automation, software and services. Baxter’s global footprint and the critical nature of its products and services play a key role in expanding access to healthcare in emerging and developed countries. Baxter’s employees worldwide are building upon Baxter’s rich heritage of medical breakthroughs to advance the next generation of healthcare innovations that enable patient care.
http://www.businesswire.com/news/home/20160517005420/en/Baxter-Announces-Final-Exchange-Ratio-1.1591-Baxalta
mlkrborn
13 years ago
Baxter presents Phase III HyQ efficacy and tolerability data at American College of Allergy, asthma & immunology meeting (BAX) 53.71 : The majority of patients infused their HyQ dose in a single site and nearly 98 percent of infusions were completed without changes in infusion rate due to tolerability. The most common local adverse reactions were discomfort/pain, erythema, swelling/edema and pruritus. Systemic adverse events occurred in 8.3 percent of HyQ infusions compared to 25 percent of IGIV infusions in the control arm. In HyQ treated patients, serious validated bacterial infections occurred at an annualized rate of 0.025, which is lower than the threshold set by the FDA of less than 1.0 annually, and the annual rate of all infections was 2.97. Further, HyQ was bioequivalent to IGIV at 108 percent of the IV dose at 3- or 4-week intervals. HyQ provided a lower peak IG concentration compared to IGIV, similar to weekly IGSC, with trough levels similar to every three or four-week IGIV treatment. Baxter has submitted applications for marketing approval of HyQ in the United States and in Europe, both of which have been accepted for review by the regulatory authorities.
MinnieM
14 years ago
Baxter Announces Final Details Regarding Previously Communicated COLLEAGUE Infusion Pump Recall in the U.S.
http://ih.advfn.com/p.php?pid=nmona&article=43586700&symbol=BAX
Baxter International Inc. announced today that the U.S. Food and Drug Administration (FDA) has issued its final order regarding the previously communicated recall of COLLEAGUE infusion pumps from the U.S. market. Baxter will offer replacement infusion pumps or refunds to owners of COLLEAGUE pumps and will execute the recall over the next two years to minimize disruption to patient care.
The replacement option permits customers to exchange COLLEAGUE infusion pumps for Sigma SPECTRUM next-generation smart pumps. Alternatively, COLLEAGUE pump owners may receive the lesser of the pump’s depreciated value, which will be no less than $1,500 per single-channel pump and $3,000 per triple-channel pump, or the purchase price. Customers who did not purchase their pumps directly from Baxter must provide proof of purchase to verify the purchase price in order to qualify for a refund. Baxter will also permit U.S. pump lessees to terminate their leases without penalty upon the return of the devices.
“Baxter’s goal is to support a seamless transition by providing choices that best address the needs of our hospital customers and minimize disruption to the delivery of patient care,” said Peter J. Arduini, president of Baxter’s Medication Delivery business. “We are continuing to work with Sigma to increase production capacity of the SPECTRUM pump in order to meet the anticipated demand for this device.”
During the 24-month transition period, customers may continue to use COLLEAGUE infusion pumps and receive service and support provided that a certificate of medical necessity form has been completed. Baxter will be providing a transition guide to help customers in replacing COLLEAGUE infusion pumps. Customers should continue to visit www.baxter.com for more information regarding COLLEAGUE activities.
This recall is specific to the U.S. market. Outside the U.S., Baxter has continued to update the COLLEAGUE device and will be initiating an additional program to provide customers with enhanced COLLEAGUE devices that contain a new battery management system, as well as further upgrades to software and mechanical systems to improve the product’s user interface and performance.
“Our actions in the U.S. as well as our planned COLLEAGUE exchange program outside the United States are intended to demonstrate our commitment to customers and patients around the world,” said Arduini.
Financial Information
In the first quarter of 2010, Baxter recorded a charge of $588 million in connection with the COLLEAGUE infusion pump recall and additional actions the company intends to take outside the U.S. The reserve included asset impairments and cash costs, including an estimate of cash refunds or replacement infusion pumps, costs associated with execution of the recall program and certain customer accommodations. At this time, the company believes that the charge is adequate.
About COLLEAGUE Infusion Pumps
Baxter introduced the COLLEAGUE infusion pump in 1997. The COLLEAGUE pump is a large volume infusion pump used to deliver medication and fluids intravenously to patients throughout a broad range of clinical settings, most frequently in hospitals. In 2006, Baxter entered into a consent decree with FDA under which the company had been pursuing remediation of the infusion pumps. The COLLEAGUE pump can continue to be used safely and effectively in accordance with the operator’s manual and additional instructions contained in field corrective actions (customer letters).
About Sigma SPECTRUM Pumps
Baxter is the exclusive distributor of the SPECTRUM infusion pump, a next-generation smart pump manufactured by SIGMA International, of which Baxter is a minority owner. Weighing approximately 2.5 pounds and measuring 1/10 the size of many other large volume pumps, the SPECTRUM pump features technology intended to help reduce pump-related adverse drug events through the use of drug libraries that eliminate the need for clinicians to manually enter commonly used drugs and dosage rates, and features a wireless connectivity option. SPECTRUM, which is currently available in the U.S., uses standard, low-cost intravenous administration sets (the tubing that delivers fluid through the infusion pump to the patient) such as those manufactured by Baxter.
About Baxter
Baxter Healthcare Corporation is the principal domestic operating subsidiary of Baxter International Inc. (NYSE: BAX). 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 recall of its COLLEAGUE infusion pumps from the U.S. market, including expectations with respect to the implementation of the recall, the adequacy of the related charge and customer accommodations outside of the U.S. 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: customer preferences with respect to electing to receive replacement Sigma SPECTRUM infusion pumps or cash refunds; Sigma’s ability to build production capacity to meet customer demand; future actions of the FDA with respect to the company's implementation of the recall pursuant to the consent decree, including any sanctions available under the consent decree; future actions of the FDA or any other regulatory body or government authority that could delay, limit or suspend product development, manufacturing or sale or result in seizures, injunctions, monetary sanctions or criminal or civil liabilities; product quality or patient safety issues; the financial impact of the recall; and other risks identified in the company's most recent filing on Form 10-K and other SEC filings, all of which are available on the company's website. The company does not undertake to update its forward-looking statements.
MinnieM
14 years ago
New Baxter-Sponsored WFH Video Launched to Spur a Global Dialogue on Improving Access to Hemophilia Care and Treatment
http://ih.advfn.com/p.php?pid=nmona&article=43566790&symbol=BAX
Baxter International Inc., in its continued support of the World Federation of Hemophilia (WFH), today announced the launch of the “Our Lives with Hemophilia: The Stories of Vaibhav and Paul” video podcast at the Hemophilia 2010 World Congress of the WFH. The video podcast provides perspective into the daily lives of two young men with severe hemophilia A from diverse backgrounds. It is the final episode in the Achieving Treatment for All: Hemophilia and Bleeding Disorders Educational Series, developed to spur a global dialogue and action around the need for broad-based access to care and treatment for people with hemophilia and other inherited bleeding disorders.
“Though the inherited bleeding disorders community has made significant progress in the past 50 years, we must work to address the significant disparities in care that still exist, as well as to protect the standard of care we have achieved in developed countries,” said Mark Skinner, president, WFH. “We are grateful for Baxter’s support of the Treatment for All educational podcast series because it has inspired conversations about how the community can work together to continue to improve the standard of care for patients, regardless of where they live.”
The “Our Lives with Hemophilia: The Stories of Vaibhav and Paul” video podcast, available at www.wfh.org/TFAseries, provides perspective into the daily lives of Paul Wilton of London, Canada and Vaibhav Nehra of New Delhi, India, both of whom live with severe hemophilia A. The video podcast is available in English and English with Spanish subtitles, and an audio-only version also is available.
People with hemophilia are living longer, more productive lives than ever before, thanks to access to comprehensive care and advanced therapies,1,2,3 but significant disparities remain, in both developed and developing countries, as 75 percent of patients worldwide do not receive appropriate care.4
“Optimal hemophilia management regimens are only as effective as they are accessible,” said Wing-Yen Wong, M.D., global senior medical director, Hemophilia at Baxter. “That is why we continue to invest in improving patient access to care today through offering therapeutic options that support diverse patient needs and in our commitment to programs such as WFH’s Global Alliance for Progress (GAP) to support the global community.”
As part of its ongoing commitment to optimizing hemophilia care and improving the lives of people living with hemophilia worldwide, Baxter supports access through community participation, as well as the education and training of healthcare professionals who treat bleeding disorders to improve medical outcomes. Baxter continues to support a multi-year commitment to WFH’s GAP program as the founding and leading sponsor, including multi-year product donations. In addition to WFH GAP donations, with humanitarian aid partner AmeriCares, Baxter has reached those living with hemophilia in underserved countries with nearly 14 million international units of much-needed factor replacement therapy donations over the past several years.
About Hemophilia
Hemophilia is a rare genetic blood clotting disorder that primarily affects males.4 People living with hemophilia do not have enough of, or are missing, one of the blood clotting proteins naturally found in blood.4 In people with hemophilia A, clotting factor VIII is not present in sufficient amounts or is absent.4 People with hemophilia do not bleed more profusely or faster than normal but bleed for a longer period of time.2 Hemophilia is usually inherited, and about one in every 5,000 males is born with the disorder.2 About one third of new cases are caused by a new mutation of the gene in the mother or the child.2 In these cases, there is no previous history of hemophilia in the family.2 According to the WFH, more than 400,000 people in the world have hemophilia.2 All races and economic groups are affected equally.2
Comprehensive care is critical to managing the physical, emotional, psychological, social and educational needs of people with hemophilia and their families. The hemophilia care team includes a wide range of professionals – including hematologists, nurses, physical therapists, social workers, counselors and many others – who deliver the skills and care necessary to manage patient needs and improve their health. Involving this specialized team ensures accurate diagnosis, prompt and effective treatment, fewer hospitalizations, healthy joints and muscles and support for families. The care team also provides psychosocial support for the caregiver, who plays an important role in hemophilia management, including through coordinating medical care, helping to administer factor replacement therapy and educating community members with whom the patient interacts. Thanks in part to hemophilia therapies available, life expectancy for hemophilia patients in developed countries has increased to more than 60 years today.3,4
About Baxter International Inc.
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.
References
1. Soucie JM et al. Mortality among males with hemophilia: relations with source of medical care. Blood 2000; 96 (2): 437-442.
2. What is Hemophilia? World Federation of Hemophilia. Accessed on: 22 April 2010. Available at: www.wfh.org/2/1/1_1_Hemophilia.htm.
3. Darby SC et. al. Mortality rates, life expectancy, and causes of death in people with hemophilia A or B in the United Kingdom who were not infected with HIV. Blood 2007, 815-825.
4. Frequently Asked Questions About Hemophilia. World Federation of Hemophilia. Accessed on: 22 April 2010. Available at: http://www.wfh.org/2/1/1_1_1_FAQ.htm.
MinnieM
14 years ago
Baxter Highlights Progress Toward Sustainability Priorities, Including First & Only Carbon Trust Certification for Medical Pr...
http://ih.advfn.com/p.php?pid=nmona&article=43355780&symbol=BAX
06/24/2010 @ 9:15AM
Baxter International Inc. (NYSE: BAX) today released its 2009 Sustainability Report – Our Priorities for a More Sustainable Future, marking the 11th consecutive year the company has released a sustainability report about its social, economic and environmental performance. The report features progress the company has made toward its sustainability priorities and goals, and its commitment to addressing global sustainability challenges through a range of initiatives, including advancing product stewardship through product carbon footprint certification and engaging employees in volunteer initiatives in their communities.
Baxter Highlights Progress Toward Sustainability Priorities
Baxter’s 2009 Sustainability Report – Our Priorities for a More Sustainable Future focuses on the company’s progress toward its sustainability priorities and goals, and features various initiatives and performance metrics.
Baxter’s sustainability priorities, grouped into the three broad categories of Our People, Our Operations and Products, and Our World, reflect issues of key concern to Baxter and its stakeholders and areas where the company is uniquely positioned to have a positive impact. Corresponding long-term performance goals demonstrate the company’s commitment, motivate continual improvement and help stakeholders assess performance. These goals include creating an inclusive workplace, strengthening math and science education, and reducing greenhouse gas emissions, waste generation and water usage.
“Sustainability is an extension of our business and our culture,” said Robert L. Parkinson, Jr., Baxter’s chairman and chief executive officer. “Each of our sustainability priorities represents an opportunity to engage employees, as we collectively contribute to a more sustainable world and benefit our business.”
Initiatives highlighted in the 2009 report include:
• Decreasing water usage by 9 percent in absolute terms and 29 percent indexed to revenue compared to 2005;
• Launching the Global Supplier Sustainability Program, incorporating 20 green criteria into Baxter’s purchasing procedures;
• Achieving a third straight year of improvement in reducing cases resulting in days lost due to workplace injuries;
• Realizing environmental benefits at Baxter’s European headquarters in Zurich, Switzerland, which uses nearly 80 percent less energy than a typical office building of its size due to green-building design elements such as natural lighting, roof-top solar panels and other innovative features; and
• Decreasing net greenhouse gas emissions from operations by 5 percent on an absolute basis and 26 percent indexed to revenue compared to 2005.
Links to additional information about the examples listed above are available via the online news release at www.baxter.com. Additional examples and data can be found in the company’s comprehensive 2009 Sustainability Report, which is aligned with the Global Reporting Initiative guidelines, available at http://sustainability.baxter.com. The report features in-depth reporting across key sustainability topics, including community support; employees; environment, health and safety; ethics and compliance; governance; and product responsibility.
First and Only Medical Product to Receive Carbon Trust Certification
As part of its efforts to advance product stewardship and sustainable practices in manufacturing, Baxter recently received Carbon Reduction certification from the UK-based Carbon Trust for FLEXBUMIN [Albumin (Human)] – the first and only albumin therapy in a flexible, plastic container, and the first and only medical product to receive this certification.
FLEXBUMIN represents an innovative combination of Baxter’s BioScience and Medication Delivery core competencies in bringing together a lifesaving therapy in a unique packaging system – the GALAXY container. Historically, albumin was packaged in glass bottles like Baxter’s BUMINATE [Albumin (Human)]. FLEXBUMIN received certification from the Carbon Trust based on a verification of comparative carbon footprint analyses combined with a commitment by Baxter to continue to decrease the carbon footprint of FLEXBUMIN during the next two years. The analyses were conducted in accordance with the BSI PAS 2050 Standard for product carbon footprinting and quantified the greenhouse gas emissions associated with the 50ml and 100ml FLEXBUMIN and BUMINATE container systems and transportation, from resource extraction through end-of-life.
“As the first and only medical product in the world to receive the carbon footprint certification from the Carbon Trust, it is clear that Baxter has a strong commitment to sustainable product design and manufacturing practices,” said Tom Delay, chief executive of the Carbon Trust. “This certification reflects Baxter’s continuous commitment to further reduce its carbon footprint.”
The FLEXBUMIN container system offers several benefits to medical institutions and the environment. It has a 55-77 percent smaller carbon footprint than BUMINATE, depending on product size and geography, due to it requiring less energy to manufacture and its reduced weight, which decreases the energy required for transport. The product also requires 47-52 percent less storage space than albumin in glass bottles, depending on product size, saving space in both hospitals and pharmacies.
Engaging Employees in their Communities, Environment
By encouraging employees to volunteer in their communities and recognizing them for their efforts, Baxter has created a culture of active volunteerism throughout the company. During 2009, Baxter employees worldwide reported 159,000 hours of volunteer service, with more than 300 employees recording 40 hours or more, and an additional 500 Baxter employees recording 75 hours or more.
Baxter encourages employees to volunteer their time with local organizations that match their personal interests, and many choose environmental initiatives. In 2009, Baxter employees worldwide recorded more than 4,600 volunteer hours on local environmental projects. During the company's second annual Baxter World Environment Week, held the first week of June to correspond with the United Nation's World Environment Day, Baxter employees worldwide sponsored events that promote earth-friendly activities and sustainable living. For example, employees from Baxter’s Orth, Austria facility cleaned the river bank near the facility and held educational events that encouraged alternative forms of transportation. The global event demonstrates the integration of sustainability into Baxter's culture and how the company's collective efforts can make a positive impact on local and global communities.
About Baxter
Baxter's commitment to sustainability spans three decades. The company is included in the Dow Jones Sustainability Index and has been recognized by Corporate Knights as one of the Global 100 Most Sustainable Corporations in the World and by Corporate Responsibility magazine as one of the 100 Best Corporate Citizens. Baxter was also ranked first in the healthcare category of Newsweek's inaugural Green Rankings in 2009. Baxter is a member of the Center for Corporate Citizenship at Boston College, the Business Environmental Leadership Council of the Pew Center on Global Climate Change, the Chicago Climate Exchange, the U.S. EPA's Climate Leaders, and the Ethics & Compliance Officer Association. Baxter endorses the Ceres principles and is an organizational stakeholder of the Global Reporting Initiative.
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.
MinnieM
15 years ago
Baxter to Present at the William Blair 30th Annual Growth Stock Conference
http://ih.advfn.com/p.php?pid=nmona&article=43166073&symbol=BAX
Baxter International Inc. (NYSE: BAX) announced today that it will present at the William Blair 30th Annual Growth Stock Conference on Thursday, June 17, 2010 at 8:40 a.m. (CT).
The live webcast of Baxter's presentation can be accessed from the Baxter corporate website at www.baxter.com and will be available for replay through July 17, 2010.
Baxter International Inc. 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.
MinnieM
15 years ago
Baxter to Present at the Goldman Sachs 31st Annual Global Healthcare Conference
http://ih.advfn.com/p.php?pid=nmona&article=43147478&symbol=BAX
Baxter International Inc. (NYSE: BAX) announced today that it will present at the Goldman Sachs 31st Annual Global Healthcare Conference on Wednesday, June 16, 2010 at 8:00 a.m. (PT) or 10:00 a.m. (CT).
The live webcast
of Baxter's presentation can be accessed from the Baxter corporate website at www.baxter.com and will be available for replay through July 16, 2010.
Baxter International Inc. 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.
MinnieM
15 years ago
Voluntary Recall Of HYLENEX Initiated
http://www.marketwatch.com/story/voluntary-recall-of-hylenex-initiated-2010-05-17?reflink=MW_news_stmp
An excerpt:
DEERFIELD, Ill., May 17, 2010 (BUSINESS WIRE) -- Baxter International Inc. /quotes/comstock/13*!bax/quotes/nls/bax (BAX 42.65, +0.20, +0.47%) announced today that a voluntary recall of all manufactured lots of HYLENEX recombinant (hyaluronidase human injection) has been initiated as a precautionary measure due to instances of particulate matter observed in a limited number of HYLENEX vials during routine stability testing. Baxter is working with the product's NDA-holder, Halozyme Therapeutics, to investigate the root cause of the issue and appropriately address the situation.
To date, no medical events or customer complaints associated with this issue have been reported. Baxter and Halozyme are committed to quickly and appropriately addressing the situation.
The companies have notified the U.S. Food and Drug Administration, and Baxter will be contacting customers to request the return of product. The company estimates that there are approximately 3,500 vials in the marketplace.
The particulate matter has not been found in testing that occurs at the time of product release (that is, immediately following production). Routine stability testing is conducted on samples of commercial products stored under various conditions to verify the quality of the product over time. As part of this stability testing for HYLENEX recombinant, a limited number of vials were observed to contain small, flake-like particles, identified as glass. The companies are continuing to investigate the root cause of this issue.
HYLENEX recombinant is a tissue permeability modifier indicated as an adjuvant in subcutaneous fluid administration for achieving hydration; to increase the dispersion and absorption of other injected drugs; and in subcutaneous urography for improving resorption of radiopaque agents.
Baxter licenses the HYLENEX recombinant technology from Halozyme, which discovered and completed development work to secure FDA approval. Baxter has worldwide exclusive rights to market and sell HYLENEX recombinant, a standalone formulation of recombinant human hyaluronidase. Baxter provides Halozyme with fill/finish services in connection with the manufacture of this product. Baxter and Halozyme launched HYLENEX in October 2009 in the United States for use in pediatric rehydration.
locksflooring
15 years ago
Baxter to Present at the Bank of America Merrill Lynch Health Care Conference
Date : 05/06/2010 @ 9:30AM
Source : Business Wire
Stock : Baxter International Inc. (BAX)
Quote : 45.92 0.27 (0.59%) @ 8:00PM
Baxter to Present at the Bank of America Merrill Lynch Health Care Conference
Baxter International Inc. (NYSE: BAX) announced today that it will present at the Bank of America Merrill Lynch Health Care Conference on Tuesday, May 11, 2010 at 9:20 a.m. (ET) or 8:20 a.m. (CT).
The live webcast of Baxter's presentation can be accessed from the Baxter corporate website at www.baxter.com and will be available for replay through June 10, 2010.
Baxter International Inc. 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.
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15 years ago
Baxter to Recall COLLEAGUE Infusion Pumps in U.S.
Date : 05/03/2010 @ 7:00PM
Source : Business Wire
Stock : Baxter International Inc. (BAX)
Quote : 47.5 0.28 (0.59%) @ 7:00PM
Baxter to Recall COLLEAGUE Infusion Pumps in U.S.
Baxter Healthcare Corporation today announced that it will recall COLLEAGUE infusion pumps from the U.S. market pursuant to an order under its existing June 2006 consent decree with the U.S. Food and Drug Administration (FDA). Baxter will work with the FDA to ensure that the recall process provides customers appropriate alternatives for supporting patients’ needs.
As previously disclosed, Baxter entered into a consent decree with FDA under which the company has been pursuing remediation of the infusion pumps. The decree permits FDA to require the recall of the pumps, and FDA has communicated to the company that it will require such a recall, with the company providing monetary consideration or replacement pumps to customers on a timeline to be determined with FDA and based on medical need. Baxter intends to work with FDA to minimize disruption to healthcare facilities using COLLEAGUE pumps. Baxter anticipates that, among alternatives to be provided to customers, the company will offer to exchange Baxter’s Sigma SPECTRUM infusion pumps for COLLEAGUE infusion pumps without charge to customers.
The consent decree permits Baxter to propose alternative actions to achieve the FDA’s objectives under the decree, which the company intends to do. The final nature of the recall and offer to customers remain subject to that ongoing dialogue. Once final, Baxter will notify customers and make information available on www.baxter.com.
Notwithstanding that uncertainty, the company currently anticipates that it will record a pre-tax special charge of $400 to $600 million in the first quarter for the reasonably estimable cost of the recall. The company is not otherwise revising its earnings guidance for the year in connection with the recall.
About Baxter
Baxter Healthcare Corporation is the principal domestic operating subsidiary of Baxter International Inc. (NYSE: BAX). 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 recall of its COLLEAGUE infusion pumps from the U.S. market, including expectations with respect to the implementation of the recall and the amount of the related charge. 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: resolution of the final nature of the recall; future actions of the FDA with respect to the Company’s implementation of the recall pursuant to the Consent decree, including any sanctions available under the Consent Decree; future actions of the FDA or any other regulatory body or government authority that could delay, limit or suspend product development, manufacturing or sale or result in seizures, injunctions, monetary sanctions or criminal or civil liabilities; product quality or patient safety issues; the financial impact of the recall; and other risks identified in the company's most recent filing on Form 10-K and other SEC filings, all of which are available on the company's website. The company does not undertake to update its forward-looking statements.
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