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July 17, 2014
08:56 EDTBAXBaxter: Guidance contemplates possible headwinds related to cyclo competition
Says positive momentum continues to build, off to a strong start for the year. Says well positioned for sustained performance. Says global demand for Advate remains very strong. Says demand for Feiba remains robust. Says to date, has not experienced any new competition for cyclophosphamide. Says wide guidance range contemplates potential headwinds related to cyclophosphamide competition, foreign currency. Says guidance currently assumes FY cyclo benefit 20c per share. Sees FY interest expense $160M. Sees FY tax rate 21.5%. Says U.S. growth may moderate, but sees international growth accelerating on sequential basis in Q3, Q4. Sees FY CapEx approx. $1.8B. Sees FY Medical Products sales up 1%-2% excluding GAMBRO. Sees competition for cyclo later this year. Sees Specialty Pharmaceuticals sales growth in the 3%-5% range. Sees BioTherapeutics sales up 4%, BioSurgery/Vaccines sales growth in the low single digits. Comments made on the Q2 earnings conference call.
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