Baxter International Inc. has posted lower net profit of $520 million during the second quarter ended June 2014 as against $590 million in the similar quarter of last year. Its net sales, however, improved by 16 per cent to $4,264 million from $3,669 million. The sales of BioScience in US increased by 7 per cent to $835 million from $782 million and overall sales of BioScience division improved by 7 per cent to $1,751 million from $1,638 million with solid growth reported across all the global franchises.

Its medical product division posted sales growth of 24 per cent to $2,513 million from $2,031 million and its US sales increased by 17 per cent to $897 million which includes sales of Gambro acquisition. This performance was driven primarily by strong sales o injectable drugs, anesthetics and nutritional therapies, as well as gains in peritoneal dialysis patients, particularly in the US and emerging market.

Robert L Parkinson, Jr, chairman and CEO, said, “We are driving solid performance across our entire business portfolio, and advancing care across our key franchises in both developed and emerging market. This provides a strong global foundation as we continue to improve our competitive position and performance, enhance operational, commercial and scientific effectiveness, meet challenges posed by the global marketplace, and create value for patients, healthcare providers, and other key stakeholders.”

For the first six months ended June 2014, Baxter's net profit declined by 6 per cent to $1,076 million from $1,142 million in the same period of last year despite higher sales of $8,215 million as against $7,117 million. The company generated cash flows from operations of app. $1.2 billion and returned app. $1 billion to shareholders through share repurchases of $450 million. And dividends totaling $531 million.

The company's Advate product is approved in 62 countries and it has undertaken global expansion. The company expects sales growth of 12 to 13 per cent in the third quarter of 2014 and earnings, before special items, of $1.28 to $1.32 per diluted share in the third quarter.