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Business

Baxter To Split Into Two Companies

by Rick Mullin
March 31, 2014 | A version of this story appeared in Volume 92, Issue 13
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Most Popular in Business

Baxter International plans to split into two independent companies by mid-2015: one for medical products and the other for biopharmaceuticals. CEO Robert L. Parkinson Jr. attributes the decision to split to “diverging business dynamics.” The medical products business had 2013 revenues of $9 billion and markets intravenous products, nutritional therapies, drug delivery systems, and injectable drugs. The biopharmaceuticals business had revenues of approximately $6 billion. Parkinson will hold the CEO spot for the medical products company, which will retain the Baxter name. Ludwig N. Hantson, currently president of the company’s biopharmaceuticals business, will head the as-yet-unnamed biopharma company.

Chemical & Engineering News
ISSN 0009-2347
Copyright © 2024 American Chemical Society

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