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Baxter CEO Parkinson Suggests Criminal Intent with regard to Heparin Contamination
By: News Visual   Tuesday, April 29, 2008 6:54 PM

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(NewsVisual, powered by IntellectSpace) -- In what sounds like grounds for a criminal investigation, the head of Baxter International Inc (NYSE: BAX) said in public for the first time that the tainting of the company’s heparin drug was probably deliberate, according to media reports.

"Robert Parkinson, the Chairman and Chief Executive of Baxter International Inc, told a Congressional committee Tuesday its blood thinner heparin appears to have been deliberately contaminated," MarketWatch reported in an online article on Tuesday.

"Baxter recently recalled the blood thinner after it found batches made at a Chinese plant were contaminated with a substance similar to the drug's active ingredient that has been linked to at least 81 deaths," the MarketWatch article added.

Investors will want to know whether Mr Parkinson can help to see the company through this enormous crisis and restore its reputation and financial viability.

NewsVisual created an IntellectSpace Knowledge Map that illustrates Mr Parkinson’s professional experience as a method for determining whether he can steer the company on the right course.

The Map shows that Mr Parkinson is not a novice to the industry, having served as in several high-level executive positions for Abbott Laboratories Inc.  He also served as a member of the Board of Directors for two other pharmaceutical companies, namely Enzon Pharmaceuticals Inc and GeneProt Inc.

In addition, Mr Parkinson also served as the Dean of Loyola University Graduate School of Business.

However, despite this excellent resume, he will now be called upon to make the most crucial decisions of his business career.



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The above story is the opinion of the author only and it does not reflect iStockAnalyst opinion. Further, the author is not personally advising you regarding the suitability of the story for your investment needs. In no event iStockAnalyst will be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from or arising out of, or in connection with the use of this information. Please consult your investment advisor before making any investment decision.
  
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