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Medical product giant Baxter International Inc. reported second quarter profit dropped 9 percent on declining sales in its biosciences unit and from the costs of a settlement with the financially troubled Greek government.
Baxter, which makes blood therapies and medication delivery devices, said net income fell to $535 million, or 90 cents a share, from $587 million, or 96 cents a share. Revenues rose 2 percent to $3.19 billion. Get the full story »
The U.S. Food and Drug Administration has warned Abbott Laboratories’ diabetes care unit about manufacturing problems at its Alameda, California plant, a letter released Tuesday said.
In a letter dated July 2, FDA said its inspectors found Abbott’s Freestyle and Navigator blood glucose monitoring products were adulturated and not conforming with codes for good quality system manufacturing practices. Get the full story »
