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Splitsville at Baxter International

The global healthcare company Baxter International Inc. (NYSE:BAX) will split into two independent publicly traded companies, one in biopharmaceuticals and the other in medical products. Baxter cited macro challenges and “diverging business dynamics” as reasons for the separation. The biopharmaceutical unit had revenues of $6 billion in 2013. On the other hand, the medical products business generated revenues north of $9 billion in 2013. The separation is expected to finalize by the middle of next year.