Baxter International Inc. is an American Fortune 500 health care company with headquarters in Deerfield, Illinois. The company mainly focuses on products to treat hemophilia, kidney disease, immune disorders and other chronic and acute medical conditions. The company has sales of $ 10.6 billion in 2017, in two businesses: BioScience and Medical Products. Baxter's BioScience business produces recombinant and blood plasma proteins to treat hemophilia and other bleeding disorders; plasma-based therapy to treat immune deficiency and other chronic and acute blood related conditions; products for regenerative medicine, and vaccines. The Business of Baxter Medical Products produces intravenous products and other products used in the delivery of fluids and medicines to patients; inhalation anesthesia; contracting services; and products to treat end-stage renal disease, or irreversible renal failure, including products for peritoneal dialysis and hemodialysis.
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Histori
Baxter International was founded in 1931 by Donald Baxter, a Los Angeles-based medical doctor, as a manufacturer and distributor of intravenous therapy solutions. Seeing the need for products closer to the Midwest, the company opened a manufacturing plant in Glenview, Illinois, in 1933. Baxter's interest was purchased in 1935 by Ralph Falk, who established the research and development function. In 1939, the company developed a vacuum collection vessel, extending shelf life from hour to week. In 1954, the company expanded operations outside the United States by opening an office in Belgium. In 1956 Baxter International introduced the first functioning artificial kidney, and in 1971 became a Fortune 500 member.
In 1971, Baxter built a large manufacturing plant in Ashdod, Israel, and as a result, the company was placed on the Arab League boycott list in the early 1980s.
Throughout the 1980s and 1990s the company expanded its reach to provide a wider range of products and services (including vaccines, more varieties of blood products) through the acquisition of various companies. The sales and production facilities are also expanded worldwide.
In 1982, Baxter acquired Medcom, Inc., a New York-based company founded by Richard Fuisz and his brother, who have large markets in the United States and Saudi Arabia. Baxter's chief executive, Vernon Loucks dismissed Fuisz who later brought anti-boycott charges against Baxter to the US Trade Office Anti-Boycott Compliance Office (OAC). Fuisz alleged that Baxter had sold the Ashdod facility in their favor to Teva Pharmaceutical Industries in 1988 while simultaneously negotiating the construction of a similar plant in Syria in partnership with the Syrian military to be removed from the Arab League blacklist in 1989. In 1993 Baxter pleaded guilty to crimes related to the anti-boycott laws in the United States.
On July 15, 1985, American Hospital Supply Corporation CEO Karl D. Bays and later Baxter-CEO Vernon R. Loucks Jr. signed an agreement that combines two of America's largest "medical supply providers". This is a "one-Baxter approach" in which the company provides "70% to 80% of what the hospital needs."
In 1991, Baxter's infant subsidiary, Caremark, "was accused by the government of paying doctors to direct patients to intravenous drug services." In 1992, Caremark split from Baxter International. Caremark was fined $ 160 million for a four-year "four-year federal and fraud fraud" scheme where "home-infusion business units make weekly payments to a number of doctors who averaged about $ 75 per patient for referring patients to their services. Some doctors earn $ 80,000 a year from bribes, according to government documents. "
In 1996, the company entered a four-way settlement, $ 640 million with 1999 hemophiliacs in relation to concentrations of blood clots infected with HIV. Under pressure from shareholders due to poor performance and unsuccessful mergers, Loucks was forced to resign.
Baxter acquired Baxa's medical equipment company on November 10, 2011. In 2011, Hikma Pharmaceuticals PLC completed the acquisition of a US Baxter Healthcare Corporation (Multi-Source Injectable or MSI) generic injectable business.
In July 2013, EU antitrust regulators approved Baxter's offer to Gambro Sweden.
In March 2014, Baxter announced plans to create two separate independent global health care companies - a focus on the development and marketing of bio-pharmaceuticals and others on medical products. The medical product company maintains the name Baxter International Inc. and a bio-pharmaceutical company named Baxalta and spun-off as a new public company that appeared on the trading board on July 1, 2015.
In July 2014, Baxter announced that it was out of the vaccine business - releasing its commercial vaccine portfolio to Pfizer (with sales expected to close by the end of the year) and exploring options for the R & D, including influenza. In October 2015, JosÃÆ'Â © E. Almeida was appointed chairman and CEO. In January 2016, Shire PLC agreed to acquire Baxalta for $ 32 billion.
In December 2016, Baxter announced it would acquire Claris Lifesciences injectable subsidiary Claris Injectable for $ 625 million.
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Former employee
During the tenure of Vernon Loucks, who was CEO of Baxter from 1980 to 1998 and chairman from 1987 to 1999, the company's sales "more than quadrupled to $ 5.7 billion while its workforce rose from 30,000 to 42,000." During that time, Loucks hired and trained staff who later became CEOs elsewhere. Baxter's alumni prepared by Loucks include Terry Mulligan of MedAssets, Lance Piccolo di Caremark, Mike Mussallem of Edwards Lifesciences Corp and CEO of Boston Scientific Corp and Cardinal Health.
Environmental activities
In 1997, reports produced by the company showed that changes made to reduce environmental impacts resulted in savings that exceeded their costs, generating net income. Reporting is done across the company, with various aggregations and reporting, including on corporate websites and intranets. The company joins the "green and greedy" movement, which aims to reduce the environmental impact of manufacturing its products while saving company money. In 2009 the company announced it has achieved various environmental goals, and will continue to try to reduce waste, emissions, energy use and environmental incidents over the next few years.
Structure
The company has sales of $ 16.7 billion in 2014, in two businesses: BioScience (sales of 2013 - $ 6.6 billion) and Medical Products ($ 8.7 billion). Sales in 2013 are 42% in the United States, 30% in Europe, 16% in Asia Pacific, 12% in Latin America and Canada. In 2011, Baxter has approximately 61,500 employees. The details of regional employees in 2013 are 36% in the United States; 34% in Europe; 16% in Asia Pacific; 14% in Latin America and Canada. In 2013, Baxter International spent more than $ 1.2 billion on research and development. As of December 31, 2016, the company has approximately 48,000 employees.
Corporate governance
In 1953 William Graham became CEO of the company. Vernon Loucks became president and CEO in 1980. Loucks was forced to resign by shareholders. When shareholders forced Loucks to resign,
"In January, when Vernon Loucks of Baxter International Inc. discharged its CEO after 18 years, the directors granted him the grant of special stock options of 950,000 shares" for the specific purpose of motivating "him" to implement a smooth transition of responsibility. "If Mr. Loucks sells all the 400,000 shares he can make at the end of the year and Baxter's stock price stays at current levels, he will make over $ 4 million."
Loucks was replaced by Harry Kraemer, who was replaced by Robert Parkinson, who took the position of CEO in 2004.
H1N1 vaccine
In June 2009, Baxter International announced that it is expected to have the first commercial vaccine for influenza H1N1 (swine flu) in early July of the same year. The company has become one of the few that works with the World Health Organization and the US Centers for Disease Control and Prevention on vaccines, and uses a cell-based, egg-based technology that allows shorter production time.
Philanthropy
In 2008, Baxter launched Science @ Work: Extending Thoughts with Real World Science, which supports teacher training and student development in healthcare and biotechnology at Chicago Public Schools.
In 2013, the company is included in The Civic 50, the list of the most public-minded companies in America from the National Conference on Citizenship and the Light Spot, published by Bloomberg.
In 2014, about 6,300 Baxter employees volunteered in their community through The Baxter International Foundation for Abuse Actors, addressing local issues such as health, the environment and education. By 2014, Baxter and The Baxter International Foundation provide more than $ 50 million.
Baxter was included for the 13th year in the list of 100 Best Corporate Citizens in the World Corporate Responsibility in 2014 for its social responsibility performance.
Controversy
1975 Outbreak of hepatitis B hemophyll
In August 1975, Baxter/Travenol withdrew the hemophil clotting factor product after the product was associated with hepatitis B outbreak
1983 prison plasma collection
Baxter, unknown to the FDA, continued to use prison plasma in concentrate factor production until October 1983, despite signing an agreement with the FDA (11 months earlier) that they will no longer use the US prison plasma, which poses a high risk of virus transmission.
1996 Japanese haemophiliac HIV demands
It was announced in the 1st quarter of 1996 that Baxter had agreed to settle a lawsuit involving 200 Japanese hemophilia patients who had been infected with HIV as a result of the use of unheated contaminated hemophilia products. The Japanese court ordered each victim to receive $ 411,460 on March 29 that year.
2001 Althane disaster
Baxter Althane disaster in the fall of 2001 was a series of 56 sudden deaths of renal failure patients in Spain, Croatia, Italy, Germany, Taiwan, Colombia and the United States (mainly Nebraska and Texas). All have received hospital treatment with Althane hemodialysis equipment, products manufactured by Baxter International, USA.
2008 Chinese Chinese heparin adulteration
In 2008, the quality of the blood thinner product produced by Baxter was questioned when it was associated with 19 deaths in the United States. Upon examination, one of the raw materials used by Baxter was found to be contaminated - between 5 and 20 percent - with a similar, but not identical, substance with the material itself. The Company initiated a voluntary withdrawal, temporarily suspended the manufacture of heparin, and launched an investigation.
Investigations into contamination focused on raw heparin produced by Changzhou Scientific Protein Laboratories, a China-based Scientific Protein Laboratories branch based in Waunakee, Wisconsin. Due to procedural errors, Changzhou SPL facilities were never checked by US FDA officials, as required by FDA regulations. In addition, Changzhou SPL products have also never been declared safe for use in pharmaceutical products by Chinese FDA officials, due to registration of Changzhou SPL as a chemical company rather than a pharmaceutical manufacturer. Although Baxter first recalls heparin due to increased adverse reactions, once contaminants are identified and testing protocols are shared with other manufacturers globally, more than a dozen other companies in nearly a dozen countries issue withdrawals, which are linked back to certain supply points in China..
2009 Contamination of avian influenza
In early 2009, samples of viral material supplied by Baxter International to a series of European laboratories were found to be contaminated with live bird flu virus (Influenza A H5N1 virus subtype). Samples of the less dangerous seasonal flu virus (H3N2 subtype) were found to be mixed with the deadly H5N1 strain after a vaccine made from animal test material that was killed in a laboratory in the Czech Republic. Despite the serious consequences avoided by laboratories in the Czech Republic, Baxter later claimed controls that failed over the distribution of 'strict' viruses and there was 'little chance' of a deadly virus that harms humans.
Inflation cost of medicine 2009
On July 2, 2009, Kentucky Attorney General Jack Conway announced a settlement between the state and Baxter Healthcare Corporation, a subsidiary of Baxter International, for $ 2 million. The company has inflated the cost of intravenous drugs sold to Kentucky Medicaid, sometimes as much as 1300%.
2010 hepatitis C infection
In 2010, a jury in Las Vegas, Nevada, ordered Baxter and Teva Pharmaceuticals to pay $ 144 million for patients who had been infected with hepatitis C after doctors incorrectly reused dirty medical supplies to provide propofol to patients, although the label for propofol was clear states that only for once patient use and aseptic procedures should be used at all times. As per the 2009 indemnity agreement between Teva (producer) and Baxter (acting as distributor on behalf of Teva), related litigation and settlements are retained and paid by Teva.
recall infusion pump 2010
In 2010, Baxter was ordered by the FDA to recall all of their partner's infusion pumps from the market due to the 87 withdrawals and deaths associated with the pump.
Tax evasion 2008-2010
In December 2011, the Public Campaign of a non-partisan organization criticized Baxter for spending $ 10.45 million on lobbying and not paying any taxes during 2008-2010, instead of earning $ 66 million in tax breaks, despite making a profit of $ 926 million.
See also
References
External links
- Official website
Source of the article : Wikipedia
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