Highlights
Baxter International Inc. is a Deerfield-based maker of medical products. Long known for its medication delivery devices -- it developed the first commercially manufactured intravenous solutions-- Baxter has been an innovator in the health-care industry since it was founded in 1931. Today, Baxter's businesses, which generate more than $10 billion in annual sales, are divided among biosciences, medication delivery devices and treatments and products to treat kidney disease and related problems. Unlike traditional pharmaceutical companies that make pills and tablets, Baxter earns its prowess largely from its ability to manufacture complex injectable drugs such as vaccines, genetically engineer...
Baxter International Inc. is a Deerfield-based maker of medical products. Long known for its medication delivery devices -- it developed the first commercially manufactured intravenous solutions-- Baxter has been an innovator in the health-care industry since it was founded in 1931. Today, Baxter's businesses, which generate more than $10 billion in annual sales, are divided among biosciences, medication delivery devices and treatments and products to treat kidney disease and related problems. Unlike traditional pharmaceutical companies that make pills and tablets, Baxter earns its prowess largely from its ability to manufacture complex injectable drugs such as vaccines, genetically engineered blood therapies to treat immune deficiencies, and stem-cell-derived treatments. In recent years, Baxter has worked with Northwestern University heart researcher Dr. Douglas Losordo on a method of injecting stem cells directly into the heart in hopes of rebuilding heart tissue and reversing the course of severe heart failure. Baxter hopes to one day offer an alternative to the 1940s egg-based technique of manufacturing vaccines, which is more time-consuming and not as consistent in its yields. Baxter is in the late stages of experimentation on its so-called cell-based vaccine development for seasonal influenza and the H5N1 Avian flu virus, also known as bird flu. In 2004, Robert Parkinson, a former president of Abbott Laboratories and Loyola University Chicago business school dean, replaced longtime Baxter finance executive Harry Kraemer. He resigned after a series of financial missteps, including the inability to get a handle on the company's financial guidance. Under Parkinson, Baxter has made a series of financial improvements, fully funding the company's pension and increasing what the company spends on research and development to unprecedented levels. The company's most lucrative division, biosciences, features top-selling blood therapies such as a clotting drug known as Advate. Baxter operates a division that sells medication-delivery devices, and it contracts manufacturing for some of the world's largest biotechnology and pharmaceutical companies.
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Hospitals to vie for Olympics
Tribune staff reporterNow with the 2008 Beijing Olympics history, the Chicago 2016 bid team is turning to the city’s hospitals for help in attracting the Games. Lots of help. The sheer number of people at any summer Olympics -- Chicago could draw more than a half-million...Tags: Medical Services, Chicago Bears, Beijing Games, Medical Staff, Chicago White Sox
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Baxter boosted by drug's head start
Chicago Tribune reporterAs the pharmaceutical industry enters a critical phase before possible U.S. approval of a new Alzheimer's disease treatment, Deerfield-based Baxter International Inc. is among the firms with a drug showing promise to combat the disorder. The Alzheimer'...Tags: Elan Corporation Plc, Medicine, Lilly Eli & Co, Medical Research, Medical Specialization
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Heparin taint tied to deaths
Chicago Tribune reporterThe U.S. Food and Drug Administration, for the first time, has conclusively linked deaths of patients infused with the blood thinner heparin to a foreign substance found in specific lots of the drug made by Deerfield-based Baxter International Inc. In an...Tags: Product Recalls, Deerfield, Health Organizations, Wisconsin
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Baxter warned on hemophilia drug promotion
Bloomberg NewsBaxter International Inc.'s promotion for the bleeding treatment FEIBA VH misleads doctors about the drug's safety and effectiveness, U.S. regulators said. A "clinical thank you e-mail" submitted for review by the Deerfield-based company violates Food...Tags: Deerfield, Health Organizations, Prescription Drugs, Health Treatments
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Inflation, oil send costs of medical supplies soaring
Chicago Tribune reporterInflation is racing through the economy at a pace not seen in years, touching even the medical gloves used by hospitals, as manufacturers cope with high oil prices. The cost of living in June shot up at the fastest rate in 17 years, with the Labor...Tags: Clothing, Accessories, and Shoes, Energy Saving, Commodity Markets, Clothing Accessories, Organic Chemicals
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Another day, another deal
Chicago Tribune correspondentEnticed by a weak dollar and strong growth prospects for the generic drug business in the U.S., a German drug company agreed Monday to purchase APP Pharmaceuticals Inc. of Schaumburg for $4.6 billion. The move by generic drug-maker Fresenius SE is the...Tags: Northwestern University, Foreign Exchange Market, Deerfield, Health Organizations, Mergers, Acquisitions and Takeovers
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Deaths linked to blood thinner heparin increase to 149
The blood thinner heparin has been linked to 149 U.S. deaths in people who had allergic reactions after taking it, U.S. regulators said. The new tally, posted Monday on the Food and Drug Administration's Web site, expands the toll of people who took...Tags: Deerfield, Health Organizations
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Baxter's profit jumps 26%
Chicago Tribune reporterBaxter International Inc. shares moved to a 52-week high Thursday after the Deerfield medical-products giant reported a stronger-than expected 26 percent increase in second-quarter earnings. Paced by continued strength in its bioscience business, Baxter...Tags: Illinois Tool Works Incorporated, Morningstar Incorporated, Deerfield, Sales, Glenview
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The week ahead
Monday Earnings Genentech Inc.; M&T Bank Corp.; Novellus Systems Inc. Tuesday Reports June Producer Price Index; June retail sales; May business inventories Earnings Altera Corp.; Cintas Corp.; CSX Corp.; Eaton Corp.; Intel Corp.; Johnson & Johnson;...Tags: Advanced Micro Devices Inc., Bank of New York Company, Capital One Financial Corporation, Wells Fargo & Co., Land Price
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Dead zone to expand
Researchers predict a "dead zone" of oxygen-depleted waters off the Louisiana and Texas coasts could grow this summer to 10,084 square miles, making it the largest such expanse in at least 23 years. If the preliminary forecast holds, the size of the Gulf...Tags: Mental Illness, Vaccines, Texas, Space Programs, NASA
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Hollywood as teaching tool
Los Angeles Times Staff WriterThe idea that Hollywood has something to teach corporate America about good business practices might sound like the inspiration for a new comedy movie. But that's the quite serious premise behind Lights, Camera, InterAction. The Los Angeles firm turns...Tags: Teaching and Learning, Hotel and Accommodation Industry, Tourism and Leisure, Hollywood (Los Angeles, California), General Mills Incorporated
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Rezko gavel-to-gavel: Week 2
Tribune staff reporterRezko rewind. Day 8 March 14, 2008; 5:13 a.m. A hospital lobbyist testified at the Tony Rezko corruption trial that he feared the friend and fundraiser of Gov. Rod Blagojevich would turn a hospital regulatory board against his clients. So Jeff Ladd, the...Tags: Elections, Medical Services, Tony Rezko, Michael Madigan, Prosecution
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