1、42NDANNUAL J.P.MORGAN HEALTHCARE CONFERENCEJos(Joe)AlmeidaChairman&Chief Executive Of ficerJ A N U A R Y 8,2 0 241This presentation includes forward-looking statements concerning the companys financial results,2022 2025 market growth rates,business development and regulatory activities and the compa

2、nys ongoing strategic actions.These forward-looking statements are based on assumptions about many important factors,including the following,which could cause actual results to differ materially from those in the forward-looking statements:the companys ability to execute and complete strategic initi

3、atives,asset dispositions and other transactions,including the planned separation of the companys Kidney Care segment and the companys ongoing work to simplify its manufacturing footprint,the timing for such transactions,the ability to satisfy any applicable conditions and the expected proceeds,cons

4、ideration and benefits;failure to accurately forecast or achieve the companys short-and long-term financial improvement performance and goals(including with respect to the companys strategic actions);the companys ability to execute on its capital allocation plans,including the companys debt repaymen

5、t plans,the timing and amount of any dividends,share repurchases and acquisition proceeds and the capital structure of the company that the company expects to form as a result of the planned separation(and the resulting capital structure for the remaining company);the impact of global economic condi

6、tions(including,among other things,inflation levels,interest rates,financial market volatility,banking crises,the potential for a recession,the ongoing wars in Ukraine,Israel and Gaza and other geopolitical events,the related economic sanctions being imposed globally in response to the conflicts and

7、 potential trade wars and the expansion of such conflicts)and continuing public health crises,pandemics and epidemics,such as the COVID-19 pandemic,or the anticipation of any of the foregoing,on the companys operations and on the companys employees,customers and suppliers,including foreign governmen

8、ts in countries in which the company operates;downgrades to the companys credit ratings or ratings outlooks,and the related impact on the companys funding costs and liquidity;product development risks,including satisfactory clinical performance and obtaining and maintaining required regulatory appro

9、vals(including as a result of evolving regulatory requirements or the withdrawal or resubmission of any pending applications),the ability to manufacture at appropriate scale,and the general unpredictability associated with the product development cycle;product quality or patient safety issues leadin

10、g to product recalls,withdrawals,launch delays,warning letters,import bans,sanctions,seizures,litigation,or declining sales,including the focus on evaluating product portfolios for the potential presence or formation of nitrosamines;future actions of(or failures to act or delays in acting by)FDA,the

11、 European Medicines Agency or any other regulatory body or government authority(including the SEC,Department of Justice,the Federal Trade Commission,Centers for Medicare&Medicaid Services or the Attorney General of any State)that could delay,limit or suspend product development,manufacturing,sale or

12、 reimbursement or result in seizures,recalls,injunctions,monetary sanctions or criminal or civil liabilities,including the lifting of the warning letters at the companys Ahmedabad facility;demand for and market acceptance risks for and competitive pressures related to new and existing products(inclu

13、ding challenges with the companys ability to accurately predict changing consumer preferences and future expenditures,which have led to and may continue to lead to increased inventory levels,and needs and advances in technology and the resulting impact on customer inventory levels),and the impact of

14、 those products on quality and patient safety concerns;breaches,including by cyber-attack,data leakage,unauthorized access or theft,or failures of or vulnerabilities in the companys information technology systems or products;the continuity,availability and pricing of acceptable raw materials and com

15、ponent parts(and the companys ability to pass some or all of these costs to the companys customers through recent price increases or otherwise),and the related continuity of the companys manufacturing and distribution and those of the companys suppliers;inability to create additional production capa

16、city in a timely manner or the occurrence of other manufacturing,sterilization or supply difficulties(including as a result of natural disaster,public health crises and epidemics/pandemics,regulatory actions or otherwise);the companys ability to finance and develop new products or enhancements on co

17、mmercially acceptable terms or at all;loss of key employees,the occurrence of labor disruptions or the inability to identify and recruit new employees;failures with respect to the companys quality,compliance or ethics programs;future actions of third parties,including third-party payers and the comp

18、anys customers and distributors(including group purchasing organizations and integrated delivery networks),the impact of healthcare reform and its implementation,suspension,repeal,replacement,amendment,modification and other similar actions undertaken by the United States or foreign governments;the

19、outcome of pending or future litigation,the impact of competitive products and pricing,including generic competition,drug reimportation and disruptive technologies(including pharmacological advances such as SGLT2 antagonists,GLP-1 agonists and selective mineralocorticoid receptor antagonists);global

20、 regulatory,trade and tax policies(including with respect to climate change and other sustainability matters);the ability to protect or enforce the companys owned or in-licensed patent or other proprietary rights(including trademarks,copyrights,trade secrets and know-how)or patents of third parties

21、preventing or restricting the companys manufacture,sale or use of affected products or technology;the impact of any goodwill or other intangible asset impairments on the companys operating results;fluctuations in foreign exchange and interest rates;any changes in law concerning the taxation of incom

22、e(whether with respect to current or future tax reform);actions by tax authorities in connection with ongoing tax audits;and other risks identified in Baxters most recent filings on Form 10-K and Form 10-Q and other SEC filings,all of which are available on Baxters website.Baxter does not undertake

23、to update its forward-looking statements unless otherwise required by the federal securities laws.2SAFE HARBOR STATEMENT3STEADFAST TO OUR MISSION OF SAVING AND SAVING AND SUSTAINING LIVESSUSTAINING LIVESGLOBAL,DIVERSIFIED AND MARKET LEADING PORTFOLIO4Kidney CarePharmaceuticalsHealthcare Systems&Tech

24、nologiesMedical Products&Therapies350+350+MillionMillionPatients lives touched annually100+100+Countries served by Baxter productsInformation on this slide as of December 31,2023.52030 CORPORATE RESPONSIBILITY COMMITMENT112030 Corporate Responsibility goals subject to refinement following proposed K

25、idneyCo spinoff.Achieve carbon neutrality for direct operations by 2040Reduce greenhouse gas emissionsImplement strategic water and waste plansIntegrate sustainable procurement strategyBring home dialysis to more underserved patientsImprove product process capabilitiesInvest$275 million in underserv

26、ed communitiesAchieve top workplace safety performanceIncrease diverse representation in leadership rolesPublished first Task Force on Climate-Related Disclosures(TCFD)Index in December 2023BAXTER CONTINUES TO MEET PATIENT AND PROVIDER NEEDS IN DURABLE ESTABLISHED MARKETS61Year-to-date sales as of S

27、eptember 30,2023.2Selected products,not exhaustive.3Includes former Medication Delivery and Clinical Nutrition businesses.4Includes former Patient Support Systems and Surgical Solutions businesses.5Market growth rate is weighted based on forecasted Baxter 2023-2026 revenue.Anticipated market growth

28、Anticipated market growth driven by:driven by:Increasing number of patients with complex chronic disordersDigital health and remote care accelerated due to COVID and staffing shortagesShift from hospital to lower cost of care settingsIncreased prevalence of outcomes-based reimbursementSupply chain e

29、nhancements to help de-risk against supply disruptionsPharmaceuticalsPharmaceuticalsMedical Products Medical Products&Therapies&TherapiesHealthcare Healthcare Systems&Systems&TechnologiesTechnologies3%+3%+23 23 26 26 expected market expected market growth rategrowth rate5 5Specialty InjectablesInhal

30、ed AnesthesiaCurrent PortfolioCurrent Portfolio2 2 YTD 23 SalesYTD 23 Sales1 1MicrosurgeryHemostats&SealantsAdhesion PreventionAdvanced SurgeryAdvanced SurgeryTissue&Bone RepairRespiratory HealthIntelligent DiagnosticsConnected MonitoringFront Line CareFront Line CareInjectables&AnesthesiaInjectable

31、s&AnesthesiaDrug Compounding$3.7B$3.7B$2.2B$2.2B$1.7B$1.7BInfusion Therapies&TechnologiesInfusion Therapies&Technologies3 3Infusion SystemsIV TherapiesHemodynamic MonitoringCernevitExactaMixDrug CompoundingDrug CompoundingCare&Connectivity SolutionsCare&Connectivity Solutions4 4Robotic TablesSmart B

32、eds&AccessoriesConnected Care SolutionsSurgical LightingPositioning Devices and AncillariesBAXTER ON TRACK TO DELIVER DIFFERENTIATED PRODUCT INNOVATIONS171Not exhaustive;subject to additional capital investment,related regulatory approvals and other risks identified on slide 2.Product launch referen

33、ces include product launches,line extensions,and geographical expansions.2Launched in 2023 or anticipated to be launched in 2024 or 2025.Future LaunchesFuture LaunchesNear Term LaunchesNear Term Launches2 2ProgressaProgressa+ICU Bed PlatformPharmaceuticalsPharmaceuticalsHealthcare Healthcare Systems

34、&Systems&TechnologiesTechnologiesPrecision Precision Locating Locating SystemSystemMobile Cardiac TelemetryMobile Cardiac TelemetryContinuous monitoring and near real-time diagnosticsNext Gen VestNext Gen VestExpanded airway clearance therapyELI 380 ELI 380 CardioServer workflowNext Gen MonitorNext

35、Gen MonitorPlatform for intelligent alarms,contextualized vitals and bed connectivityMedical Products Medical Products&Therapies&TherapiesNovum IQ LVP&Syringe Infusion Platform(Canada/U.S.)Novum IQ LVP&Syringe Infusion Platform(Canada/U.S.)EMR Connectivity,Over the Air Software Upgrades,and Asset Tr

36、ackingOrganic Sodium Organic Sodium Phosphate(U.S.)Phosphate(U.S.)Ambulatory Pump Ambulatory Pump Hospital&alternate-site pump offeringUS US PerclotPerclotDiabetic Diabetic Retinopathy AIRetinopathy AIFocus on Accelerating Launches of Differentiated and Focus on Accelerating Launches of Differentiat

37、ed and Complex Injectable ProductsComplex Injectable Products25+Anticipated New Product Launches in 2025 and 202625+Anticipated New Product Launches in 2025 and 2026Grow the Premix portfolio while expanding into prefilled syringesDevelop complex,limited competition injectables Build new delivery pla

38、tformsDifferentiated ReadyDifferentiated Ready-toto-UseUseInjectablesInjectablesZosynNorepinephrine RTBendamustine Liquid10+Anticipated New Product Launches in 202410+Anticipated New Product Launches in 2024Helux ProHelux ProConnected Surgical LightCentrella FeaturesCentrella FeaturesCLR,Ready Conne

39、ct,Security&Connectivity EnhancementsHelionHelionOR Integration EnhancementsKIDNEY CARE INCLUDES MARKET-LEADING PORTFOLIO WITHIN ESSENTIAL RENAL SEGMENTS81Year-to-date sales as of September 30,2023.2Selected products,not exhaustive.3Includes former Renal Care business.4Market growth rate is weighted

40、 based on forecasted Kidney Care 2023-2026 revenue.Current PortfolioCurrent Portfolio2 2 YTD 23 SalesYTD 23 Sales1 1Anticipated market growth Anticipated market growth driven by:driven by:Ongoing global shift to homeIncreased awareness of blood purification therapies Patient volume and complexity in

41、creasing with aging populationsFocus on device connectivity and communicationAcute TherapiesAcute TherapiesChronic Chronic TherapiesTherapies3 3PD Cyclers&SolutionsEcosystemEcosystemAnalytics and Decision SupportMyPD Patient AppHD Monitor Systems,Dialyzers,Bloodlines,and AncillariesWater SystemsDigi

42、tal Health SolutionsContinuous Renal Replacement Therapies(CRRT)3 3-4%4%23 23 26 26 expected market expected market growth rategrowth rate4 4Digital Health SolutionsOrgan Support Therapies$0.6B$0.6B$2.7B$2.7BKIDNEYCO BEING STRUCTURED TO CONTINUE TO DRIVE PATIENT-FOCUSED INNOVATION WITH STRONG R&D PI

43、PELINE191Not exhaustive;subject to additional capital investment,related regulatory approvals and other risks identified on slide 2.Product launch references include product launches,line extensions,and geographical expansions.2Launched in 2023 or anticipated to be launched in 2024 or 2025.3Includes

44、 former Renal Care business.Chronic Chronic TherapiesTherapies3 3Future LaunchesFuture LaunchesNear Term LaunchesNear Term Launches2 2Acute TherapiesAcute TherapiesChina CRRT FluidsChina CRRT FluidsGeographic expansion of CRRT fluids portfolio in ChinaSharesource Analytics Sharesource Analytics Data

45、 visualization to help clinicians proactively manage PD patients therapySharesource AdequestSharesource Adequest Tool which helps calculate,report,and predict adequacy of PD patients prescriptionPMX Sepsis FilterPMX Sepsis FilterExclusive distribution in U.S./CanadaPatient Monitoring Suite Patient M

46、onitoring Suite Series of connected care solutions to increase clinic operational efficiencyArtificial Kidney Technology Artificial Kidney Technology Strategic bets in emerging technologiesU.S.Citrate&Calcium SolutionsU.S.Citrate&Calcium SolutionsExpanding portfolio offering with calcium solution to

47、 be used in tandem with citratePrisMaxPrisMax 3 3 CRRT machine optimized for citrateHome PD Solution GenerationHome PD Solution GenerationLeverage Point of Care(POC)program learnings towards next-gen PD solution generation systemSepsis DiagnosticSepsis DiagnosticEndotoxin diagnostic that aids in sep

48、sis risk assessmentPROGRESS UPDATE ON STRATEGIC ACTIONS TAKEN TO DELIVER ENHANCED SHAREHOLDER VALUE10Continuing to progress on the planned separation of Baxters Kidney Care segmentMaking progress towards target of July 2024 for proposed spinoffIn ProgressCompleted the divestiture of the BioPharma So

49、lutions(BPS)business at the end of Q3 2023.Utilizing$3.7 billion of net after-tax proceeds for debt repayment,consistent with previously noted capital allocation prioritiesCompleteFinalized operating model and in Q3 2023 began reporting across four verticalized global segments replacing prior struct

50、ure of nine businesses operating across three geographic regionsCompleteENHANCING BAXTERS VALUE CREATION POTENTIAL THROUGH PORTFOLIO ACTIONS AND SIMPLIFIED OPERATING MODEL Streamline portfolio and commercial structure to fulfill Baxters vision Accelerate commercial investments to further penetrate t

51、arget segments Drive expansion into additional global markets Allocate R&D capital towards higher growth segments(e.g.,connected care)Design products to address evolving patient and provider needs Redesign operations and manufacturing to improve performance Drive improved accountability,simplified r

52、eporting,and resilient supply chainAccelerate growth from Accelerate growth from additional investments additional investments in S&M and R&Din S&M and R&DCreate path for Create path for operating margin operating margin expansionexpansionCommercialCommercialInnovationInnovationOperationsOperations1

53、1KIDNEY CARE SEPARATION EXPECTED TO ACCELERATE VALUE CREATION POTENTIAL Increase PD and HDx therapy penetration in existing geographies Drive CRRT portfolio expansion in the U.S.and geographic expansion in emerging marketsCommercialCommercial Accelerate R&D investment in patient-focused opportunitie

54、s Shift R&D investment from sustaining to new product developmentInnovationInnovationOperationsOperations Transform manufacturing network to renal-specific sites Optimize fit-for-purpose business support functionsEnhance value creation Enhance value creation through accelerated through accelerated r

55、evenue growth revenue growth Chart path to attractive Chart path to attractive operating income operating income growthgrowth12CONTINUING MOMENTUM IN 2024 AND BEYOND13Building on underlying 2023 business momentum and financial progressActively progressing on proposed separation of Kidney Care to cre

56、ate two leading healthcare companies with robust product portfoliosSeparation expected to enhance value creation through accelerated revenue and operating income growth opportunities for both companiesPlan to host an investor conference in Mid-2024 to discuss forward looking strategies and financial objectives for both companies42NDANNUAL J.P.MORGAN HEALTHCARE CONFERENCEJos(Joe)AlmeidaChairman&Chief Executive Of ficerJ A N U A R Y 8,2 0 2414