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Johnson & Johnson's Cypher dents Guidant, Boston Scientific stent sales

This article was originally published in Clinica

Executive Summary

Baxter International ended a difficult year with a drop in full-year income from continuing operations from just over $1bn to $922m. However, overall sales and income rose, helped by foreign exchange effects, drug delivery, anaesthesia and haemophilia products. Renal product sales were up by 6% to $1.8bn. Three-quarters of the planned 3,000 job cuts have already gone, and the Deerfield, Illinois company indicated that further people could go as the company continues to address its profitability and cash flow. First-quarter and full-year 2004 sales are expected to rise by 3-5% excluding currency effects.

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