They maintain vast scientific databases that are available to all their businesses worldwide. 1 Baxter is also constantly acquiring companies that will improve its own already extensive amount of technology. They have expanded their product portfolio in recent years by licensing and buying technology, and by acquiring companies. In 1997 Baxter completed several acquisitions that have expanded their global presence and technological superiority. 2 Baxter spends huge sums of money in research and development projects.
Technology is a key factor in research and development projects.
1 Baxter also enters into joint ventures with other companies and organizations to develop breakthrough new medical products. Joint ventures are also one way to keep a new stream of ideas flowing into the company to complement their existing base of knowledge. Joint ventures also allow the two groups to share the risk of the project. But, most important, joint ventures allow two companies to join their technology and expertise together to develop new products. New technology can also help to cut cost and provide more information in the sale and distribution process.