Company: Baxter Healthcare
Location: Deerfield, IL
CEO: Robert Parkinson, Jr.
Sales: $12.6 Billion
Baxter was founded in 1931 as the first manufacturer of commercially prepared intravenous solutions.
During the second quarter, Baxter's medication delivery division saw its sales increase 9 percent (or 6 percent excluding the impact of foreign currency) to $1.2 billion. Renal sales of $585 million increased 6 percent (or 1 percent excluding the impact of foreign currency), as the company continued to post solid gains in peritoneal dialysis patients, especially in the U.S., Latin America and Asia, and benefited from the recently acquired continuous renal replacement therapy business.
Baxter has faced setbacks this year. In May, the FDA ordered Baxter to recall and destroy its Colleague infusion pumps from the U.S. market based on what the agency calls the company's "longstanding failure" to fix serious problems. In addition, Baxter must provide refunds or free replacement pumps to customers affected by the recall. Baxter will carry out the the recall over the next two years. And in June, the FDA warned Baxter about its concerns about the company's HomeChoice peritoneal dialysis systems, after reports surfaced of at least four patients developing peritonitis.