Sales of dialysis products from Baxter International’s Renal division totaled $965 million in the second quarter, representing a 2% increase on a reported basis over last year, the company reported on July 26. Increased demand globally for continuous renal replacement therapies along with strong sales of peritoneal dialysis products contributed to growth in the quarter, the company said.
Baxter’s new AMIA automated peritoneal dialysis system with the SHARESOURCE Connectivity Platform, launched in the U.S. in late 2015 and recently approved by Health Canada, is now being used by more than 500 patients in the U.S., Baxter reported.
Overall, Baxter International Inc. second quarter worldwide sales totaled $2.6 billion, an increase of 4% on a reported basis as compared to the prior-year period. ”Our second quarter results reflect the steady progress we are making on our strategy to drive industry-leading performance through a disciplined focus on portfolio management and innovation, operational excellence and capital allocation,” said Baxter chairman and CEO José E. Almeida.
During the quarter, Baxter reported income from continuing operations of $1.2 billion, or $2.19 per diluted share, on a GAAP (Generally Accepted Accounting Principles) basis. These results included an after-tax net gain of approximately $1.1 billion from the disposition of the company’s remaining shares of Baxalta Inc., which the company spun-off in July 2015. Partially offsetting these results were net after-tax special items totaling $192 million, primarily related to business optimization initiatives, intangible asset amortization, asset impairment, and costs related to spinning off its Baxalta division.
Baxter’s second quarter sales within the United States were $1.1 billion, advancing 10%, while international sales totaled $1.5 billion, representing a 1% increase on a reported basis. Adjusting for the impact of foreign exchange and a generic market entrant in the United States for the company’s oncology injectable, cyclophosphamide, Baxter’s sales increased 12% in the U.S. and globally rose 7% in the second quarter.
A webcast of Baxter’s second quarter conference call for investors can be accessed live from a link on the company’s website at www.baxter.com.