Baxter Reports $45M Boost From COVID-19 Demand In Q1
The COVID-19 pandemic has increased demand for products from all of Baxter’s businesses except its advanced surgery division. Overall, the diversified company’s global sales were up 8% in the first quarter.
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Demand for Baxter's acute therapy products helped offset declines across its advanced surgery, pharmaceuticals and medication-delivery businesses in the second quarter.
Under guidelines recently unveiled by President Trump, US health care facilities could gradually start phasing-in more elective surgeries, including commonly performed operations that were postponed due the COVID-19 outbreak – many of which involve extensive device use. Elective surgeries include orthopedic joint replacement procedures, colonoscopies and cataract-correcting procedures that could resume as early as May under Trump’s plan.
Baxter and Fresenius are taking extraordinary steps to respond to the flood of COVID-19 patients requiring continuous renal replacement therapy.