Stand-alone Baxalta gets off to a good start, with positive 2nd-qtr sales momentum

Baxalta (NYSE:BXLT) yesterday reported revenues for the second quarter and first half of 2015, which exceeded its own expectations, and provided its financial outlook for the third quarter and second half of 2015.

Baxalta - a spin out from Baxter International - launched as an independent company, listed on the New York Stock Exchange, on July 1, 2015. The company did not report earnings data because it was still a subsidiary of Baxter. Baxalta shares gained 3.2% to 431.91.

Baxalta generated worldwide pro forma sales of $1.47 billion, reflecting growth of 7% excluding the impact of foreign currency. Pro forma sales include international sales of $40 million, which were comparable to the prior year, associated with the company’s manufacturing and supply agreement (MSA) for certain biosurgery products for Baxter International. On a generally-accepted accounting principles (GAPP) basis, Baxalta’s worldwide revenues of $1.43 billion declined 2% from the prior-year period.