Health and Science

Baxter says it expects Hurricane Maria impact on fourth-quarter revenue

Key Points
  • Baxter says Hurricane Maria may impact its fourth-quarter revenue.
  • The company's three sites in Pureto Rico sustained minimal structural damage.
  • The FDA is working with Baxter to manage its U.S. supply by importing products from its facilities in Ireland and Australia.
Baxter says minimal damage at three Puerto Rico sites

Baxter International said Thursday that it expects to see an impact from Hurricane Maria on its fourth-quarter revenue.

The company said, however, that it expects strong performance elsewhere in the business to help mitigate the storm's effect.

Baxter said three of its manufacturing sites in Puerto Rico sustained minimal structural damage and that limited production resumed within one week.

USNS Comfort (T-AH-20) departs Naval Station Norfolk on the afternoon of Friday, September 29, marking the beginning of it's journey to Puerto Rico.
Photo: Lieutenant Junior Grade Juan Pablo Vielma, United States Navy.

In the meantime, the company said it is working with the Food and Drug Administration to import some products from Baxter facilities in Ireland and Australia to help support its product supply in the U.S.

Baxter said, however, that this measure won't completely offset the supply shortfall. The company said it is working to ramp up production in storm-battered Puerto Rico in the coming weeks.

The company said it is also taking a number of measures to help support its employees in Puerto Rico as well as the local community.

Baxter shares were little moved in extended trading.