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The Deerfield-based medical product giant said net income grew to $530 million, or 87 cents a share, compared to $472 million, or 74 cents in the third quarter of 2008. Sales were flat at $3.14 billion, compared to $3.15 billion in the year-ago quarter thanks to the negative impact of foreign exchange.
The report beat analysts estimates by about two cents a share.
In a press release issued this morning, Baxter described "key drivers" as bioscience sales that include blood therapies such as Advate as well as treatments for immune system disorders. Worldwide bioscience sales were up 8 percent to nearly $1.4 billion in the quarter.
The company's top executive credited the double-digit percentage increase in profits to the company's balanced portfolio of products that also includes medication delivery devices and treatments for kidney diseases.
"We continue to leverage the benefits derived from our diversified healthcare model to achieve solid financial performance, despite a challenging global macro-economic environment," said Baxter chief executive Robert Parkinson. "Given our strong financial position, geographic presence, and the medically-necessary nature of Baxter's products, Baxter is well-positioned to capitalize on opportunities across a broad array of therapeutic areas."
bjapsen@tribune.com
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