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Baxter to split into two businesses.

DEERFIELD, Ill. -- Baxter International Inc. has announced plans to create two separate, independent global health care companies, one focused on developing and marketing biopharmaceuticals and the other focused on medical products.

The company notes that it has positioned both businesses to be successful, profitable and sustainable independent companies, a decision that reflects the evolution of multifaceted strategies that emphasize a commitment to innovation and operational excellence.

"Baxter has an established history of executing successful spin-offs, and we have continued to evaluate the separation of these two businesses in response to diverging business dynamics and the rapidly changing macro-environment," comments chairman and chief executive officer Robert Parkinson Jr.

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Title Annotation:RX/News
Publication:Chain Drug Review
Date:Apr 28, 2014
Words:107
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