Investors can miss quite a bit on a three day weekend.
Baxter International said in a securities filing Friday that one of the company’s employees received a grand jury subpoena prepared by the U.S. Department of Justice earlier this week. Baxter had previously disclosed a separate antitrust investigation by the New York Attorney General’s office.
The medical supplies company said the new subpoena, which is “pursuant to a criminal investigation,” calls for the employee to produce documents and testimony regarding, among other things, pricing and shortages of intravenous solutions “and communications with competitors regarding the same.” Revenues in the company’s fluid systems segment, which includes intravenous therapies, infusion pumps and administration sets, was $2.3 billion last year, slightly more than one quarter of total sales.
Baxter said in the filing that it is cooperating with the new investigation.
April 17, 2017 at 01:12AM
from Charley Grant
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