Baxter Still in Turnaround Mode Following Weak Postpandemic Results and Renal Divestiture

Although the 2015 Baxalta spinoff was successful, Baxter's financial results fell substantially in 2022-23 on external pressures, such as inflation and weak medical utilization trends. With medical utilization rising, supply chain pressures easing, and new contracts with group purchasing organizations coming up, Baxter's profits looked set for a turnaround until new US tariffs cast uncertainty around those prospects.