Baxter's 4th-qtr net earnings up 47%

USA-based drugmaker Baxter International says that, for the fourth quarter 2006, its income from continuing operations was $433.0 million, up 47% on the comparable period in 2005. The firm said that the growth, which was ahead of analysts expectations, was a result of strong sales, lower income tax costs and expansion of its gross margins.

Baxter reported that its revenues for the period increased 11% to $2.8 billion, with its US operations contributing $1.2 billion, also representing 11% growth. The Illinois-headquartered firm highlighted the performance of Advate (octocog alfa recombinant coagulation factor VIII) and its Gammagard Liquid (immune globulin intravenous human) 10% solution, as key growth drivers.

Robert Parkinson, Baxter's chief executive, said that the firm would focus on accelerating its R&D program, adding that "redediction to science and technology will be an important driver of Baxter's future growth."