Baxter reports sales growth for first quarter of 2010

Baxter has published its financial report for the first quarter of the 2010 fiscal year, stating that its performance is in line with expectations.

The medical company’s net income for the quarter came to a total of $525 million (341.2 million pounds), a four per cent increase compared to the opening period of 2009.

Sales were up across all of Baxter’s key divisions, with renal and medication delivery products recording double-digit increases, resulting in an overall year-on-year net sales increase of five per cent.

The company now expects to achieve sales growth of between zero and two per cent in the second quarter, while its full year sales are forecast to be three to five per cent above their 2009 levels.

Robert Parkinson, chairman and chief executive officer of Baxter, said: “We believe the diversified and medically-necessary nature of our portfolio, broad geographic reach and strong new product pipeline provide a foundation for continued leadership in an evolving marketplace.”

Earlier this month, the company announced the appointment of Dr Ludwig Hantson as its new president of international operations and corporate vice-president, with the executive set to take up the role on May 3rd 2010.