Earnings Preview for Baxter International

From AP:

Specialty drug and device maker Baxter International reports its third-quarter 2009 results Thursday morning. The following is a summary of key developments and analyst commentary for the period.
OVERVIEW: Baxter announced several high-profile product launches and agreements during the last three-month period.
Last week the Deerfield, Illinois-based company said authorities in the European Union approved its swine flu vaccine. Baxter said preliminary trials of the Celvapan H1N1 vaccine is “well tolerated” by patients 18 and older.
Baxter along with Sanofi-Aventis SA, GlaxoSmithKline PLC and several other pharmaceutical companies are rushing vaccines onto the market as governments around the world brace for a swine flu pandemic. Baxter has contracts to produce the vaccine for several countries in Europe, but not the U.S.
BY THE NUMBERS: Baxter said in July it expects to report earnings of 95 to 97 cents per share for the third quarter.
ANALYST TAKE: Analysts surveyed by Thomson Reuters have earnings per share of 97 cents per share on revenue of $3.2 billion.
WHAT’S AHEAD: Baxter has already begun making shipments of its H1N1 vaccine to countries with which it has contracts, including Ireland and the U.K. The company is now studying whether a single dose of the vaccine will be enough to prompt an immune response to the flu.

Posted by on October 13th, 2009 at 12:13 pm


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