CHICAGO, May 25 /PRNewswire-FirstCall/ -- At a conference for investors conducted today in Chicago, Baxter International Inc. executives discussed the company’s near-term strategic priorities, reiterated its financial guidance for 2005, highlighted a number of the company’s current technologies and products, and reviewed the company’s financial objectives for the next five years.
“Our number one objective is value creation,” said Robert L. Parkinson, Jr., chairman and chief executive officer. “We are confident that we have a strong leadership team in place that will allow us to execute upon our long- term business strategies and leverage the value inherent within our business portfolio.
“Now that we have made progress in restoring investor credibility, improving the quality of earnings and strengthening our balance sheet, and driving greater discipline in capital allocation, we will begin to focus on increasing innovation and productivity of R&D, accelerating business development efforts, and enhancing our portfolio to drive value creation and profitable growth,” Parkinson said.
Baxter executives said they also expect to accelerate value creation through greater leverage of existing market positions, further international expansion, and continued margin improvement.
A full audio replay of today’s conference and copies of the presentations are available for the next 30 days on http://www.baxter.com/ . Please visit Baxter’s website for more information regarding future investor events and webcasts, including investor presentations.
Baxter International Inc., through its subsidiaries, assists healthcare professionals and their patients with the treatment of complex medical conditions, including cancer, hemophilia, immune disorders, kidney disease and trauma. The company applies its expertise in medical devices, pharmaceuticals and biotechnology to make a meaningful difference in patients’ lives.
This news release contains forward-looking statements within the meaning of the federal securities laws. These statements involve risks and uncertainties, including: the company’s ability to realize in a timely manner the anticipated benefits of restructuring initiatives; the effect of economic conditions; the impact of geographic and/or product mix on the company’s sales; actions of regulatory bodies and other governmental authorities, including the Food and Drug Administration and foreign counterparts that could delay, limit or suspend product sales and distribution; product quality and/or patient safety concerns leading to product recalls, withdrawals, launch delays or declining sales; product development risks; interest rates; technological advances in the medical field; demand for and market acceptance risks for new and existing products, and other technologies; the impact of competitive products and pricing, including generic competition, drug reimportation and disruptive technologies; inventory reductions or fluctuations in buying patterns by wholesalers or distributors; foreign currency exchange rates; the availability of acceptable raw materials and component supply; global regulatory, trade and tax policies; the ability to enforce patents; patents of third parties preventing or restricting the company’s manufacture, sale or use of affected products or technology; reimbursement policies of government agencies and private payers; internal and external factors that could impact commercialization; results of product testing; and other risks detailed in the company’s filings with the Securities and Exchange Commission. These forward- looking statements are based on estimates and assumptions within the bounds of management’s knowledge of the company’s business and operations, but there can be no assurance that the actual results or performance of the company will conform to any future results or performance expressed or implied by such forward-looking statements, and undue reliance should not be placed on them. Actual results could differ materially from such statements. Please refer to Baxter’s Annual Report on Form 10-K, our Quarterly Reports on Form 10-Q and other documents filed by the company with the Securities and Exchange Commission, which are also available on Baxter’s website, for more details concerning important factors that could cause actual results to differ materially. The company disclaims any current intention to update any forward-looking statements and all such statements speak only as of the time when made.
Baxter International Inc.
CONTACT: Media, Deborah Spak, +1-847-948-2349, or Investors, Mary KayLadone, +1-847-948-3371, or Mike Shapiro, +1-847-948-3212, all of BaxterInternational Inc.
Web site: http://www.baxter.com/