Profits Rise 9% At Baxter International

Baxter International achieved net income for the first quarter of 1996 of $158 million, up 9%, while earnings per share grew 12% to 58 cents. Sales for the quarter were $1.3 billion, an increase of 12%. Due to the setting-up of two independent firms, medical technology and healthcare cost management (Marketletter December 4, 1995), results have been restated to reflect the latter as a discontinued operation.

The firm said that there was strong growth from its cardiovascular and biotechnology businesses. Domestic sales were $644 million, up 8%, and international turnover advanced 16% to $655 million.