Company Presents Long-Range Financial Outlook and Showcases R&D Initiatives and Growth Strategies
CHICAGO--(BUSINESS WIRE)-- Baxter International Inc. (NYSE:BAX) will host its 2012 Investor Conference today in Chicago, and during the conference, the company plans to provide its five-year long-range financial outlook, update investors on its innovation pipeline, and outline the company’s key growth strategies.
Baxter will highlight its ongoing focus on four key growth vectors during presentations by a number of Baxter executives. These vectors of growth include: optimizing the core business portfolio; advancing the company’s new product pipeline; pursuing and accelerating the pace of business development initiatives; and capitalizing on the opportunity to develop new business models, which include public and private partnerships aimed at improving the quality of and access to care in both developed and emerging markets.
''We continue to be encouraged by the strength of our diversified business model, our ability to innovate, our prospects for growth, and the future of our company,'' says Robert L. Parkinson, Jr., chairman and chief executive officer. ''We are focused on specific growth strategies that will enable us to reward shareholders, while meeting the needs of the patients and customers who rely on our products to save and sustain lives.''
Over its five-year long-range plan, Baxter expects to increase sales approximately 5 percent (excluding the impact of foreign currency) and grow earnings per share in the 7 to 9 percent range, both on a compound annual basis. The company also expects to generate cash flow from operations of approximately $4.5 billion by the year 2017. This strong cash flow performance positions the company to continue to reinvest in the business and return significant value to shareholders through dividends and share repurchases.
Baxter also will showcase numerous research and development initiatives which continue to advance toward commercialization. The company’s new product pipeline includes numerous products and therapies that address the needs of patients in the acute care setting, as well as the needs of patients with chronic conditions who are increasingly being treated in the home.
''Baxter’s heritage of innovation has had a far-reaching impact on patient care,'' adds Parkinson. ''Innovation is the lifeblood of growth in today’s competitive marketplace, and our R&D investment has risen steadily to reflect this reality.''
A webcast of Baxter’s 2012 Investor Conference can be accessed live from a link on the company’s website at www.baxter.com beginning at 9:00 a.m. CDT on October 9, 2012. A replay of Baxter’s 2012 Investor Conference and accompanying presentation materials can be accessed from a link on the company’s website at www.baxter.com beginning October 10. Please visit Baxter’s website for more information regarding this and future investor events and webcasts.
Baxter International Inc., through its subsidiaries, develops, manufactures and markets products that save and sustain the lives of people with hemophilia, immune disorders, infectious diseases, kidney disease, trauma, and other chronic and acute medical conditions. As a global, diversified healthcare company, Baxter applies a unique combination of expertise in medical devices, pharmaceuticals and biotechnology to create products that advance patient care worldwide.
This release includes forward-looking statements concerning Baxter’s long-range plan, R&D pipeline, business development and other growth strategies, and capital allocation philosophy. The statements are based on assumptions about many important factors, including the following, which could cause actual results to differ materially from those in the forward-looking statements: demand for and market acceptance risks for new and existing products; future actions of regulatory bodies and other governmental authorities, including the FDA and foreign counterparts; product quality or patient safety concerns; U.S. healthcare reform and other austerity measures; reimbursement and rebate policies of government agencies and private payers; product development risks; accurate identification of business development and growth opportunities; timely submission and approval of regulatory filings; inventory reductions or fluctuations in buying patterns; the impact of geographic and product mix on the company's sales; the impact of competitive products and pricing, drug reimportation and disruptive technologies; the availability of acceptable raw materials and component supply; fluctuations of supply and demand and the pricing of plasma-based therapies; the ability to enforce company patents; patents of third parties preventing or restricting the company’s manufacture, sale or use of affected products or technology; realization of benefits from joint product development and commercialization arrangements; the impact of global economic conditions on Baxter and its customers, including foreign governments; foreign currency fluctuations and other risks identified in the company's most recent filing on Form 10-K and other SEC filings, all of which are available on the company's website. The company does not undertake to update its forward-looking statements. Financial schedules are available on the company’s website.
Baxter International Inc.
Deborah Spak, (224) 948-2349
Mary Kay Ladone, (224) 948-3371
Clare Trachtman, (224) 948-3085
Source: Baxter International Inc.