Baxter International Inc. (BAX, Financial), a leading healthcare company, has issued a press release detailing the impact of Hurricane Helene on its North Cove facility located in Marion, North Carolina. The hurricane brought unprecedented rain and extensive flooding to the region, resulting in the temporary closure of the facility for production as the company undertakes necessary remediation efforts.
The company is actively collaborating with customers, regulators, and other stakeholders to manage inventory and minimize disruptions to patient care. This includes implementing allocations to limit customer orders based on historical ordering patterns and medical necessity, reallocating capacity from other Baxter facilities, and working with the U.S. Food and Drug Administration to temporarily import certain Baxter products.
As of October 8, 2024, Baxter has announced its goal to restart production at the North Cove facility in phases. The company aims to achieve 90% to 100% allocation of certain intravenous solution product codes by the end of 2024. Baxter plans to provide periodic updates on the status of its remediation efforts and supply continuity on its website and during its third-quarter earnings announcement.
Investors and stakeholders are encouraged to stay informed through Baxter's dedicated updates page at www.baxter.com/baxter-newsroom/hurricane-helene-updates. The company has clarified that the information on this page is not incorporated into its SEC filings.
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