Baxter International Inks Deal to develop a new home dialysis machine

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Baxter International Inks Deal With DEKA
Monday August 6, 10:07 am ET
Baxter International Inks Development Deal With DEKA Research & Development

DEERFIELD Ill. (AP) -- Drug developer Baxter International Inc. said Monday it is collaborating with DEKA Research & Development Corp. and HHD LLC to develop a new home dialysis machine.

The hemiodialysis machine removes waste products and excess fluid from the body, acting like a replacement kidney. Under the deal, Baxter said it purchased an option to buy assets of HHD LLC and will fund DEKA's related research and development activities. Baxter could also make future royalty payments to DEKA.

Baxter will record a pretax charge of up to $25 million, or 4 cents per share, in the third-quarter for the in-processing of research and development under the deal.

Shares of Baxter International were unchanged at $53.50 in morning trading.

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