News Release

BAXTER HEALTHCARE CORPORATION COMPLETES ACQUISITION OF COOK PHARMACEUTICAL SOLUTIONS

Deerfield, Ill. and Bloomington, Ind., August 20, 2001 - Baxter Healthcare Corporation today announced that it has completed its $219 million acquisition of Cook Pharmaceutical Solutions, formerly a unit of Cook Group Incorporated.

The process of integrating Cook Pharmaceutical Solutions is underway and Baxter anticipates a seamless transition for its customers and its approximately 300 new employees, a highly skilled workforce that includes manufacturing, research and development and quality teams.

"We are very pleased to have concluded this transaction so quickly," said Joel Tune, general manager of Baxter's Global Drug Delivery business. "The acquisition of Cook Pharmaceutical Solutions broadens the range of products and services we can offer our global pharmaceutical company partners and supports our strategy of becoming a complete provider."

The acquisition of Cook Pharmaceutical Solutions expands Baxter's portfolio of medication delivery products to include a complete line of sterile dosage forms such as solutions, suspensions and freeze-dried (lyophilized) powders in vials and pre-filled syringes. This acquisition also expands Baxter's capability to offer contract manufacturing, a full range of quality control, analytical and microbiological services, as well as validation and other assistance to its pharmaceutical company customers in regulatory submissions. As previously announced, Baxter purchased the Cook Pharmaceutical Solutions' property, located in Bloomington, Indiana, including Curry Pike campus with six buildings and a newly expanded 120,000 sq. ft. state-of-the-art manufacturing facility.

Baxter Healthcare Corporation is the principal domestic operating subsidiary of Baxter International Inc. (NYSE: BAX). Baxter is a global medical products and services company that, through its subsidiaries, provides critical therapies for people with life-threatening conditions. The company's products and services in bioscience (biopharmaceuticals, vaccines, biosurgery and transfusion therapies), medication delivery and renal therapy are used by health-care providers and their patients in more than 100 countries. Baxter's Medication Delivery business offers a single source for medication delivery products and services, including drug-delivery, intravenous solutions, sets, infusion pumps, parenteral nutrition products, anesthesia devices and pharmaceutical agents.

FOR ADDITIONAL INFORMATION:

	Media Contacts: George Rafeedie, (847) 948-3675, george_rafeedie@baxter.com Deborah Spak, (847) 948-2349, deborah_spak@baxter.com Investors Contacts: Neville Jeharajah, (847) 948-2875, neville_jeharajah@baxter.com Mary Kay Ladone, (847) 948-3371, mary_kay_ladone@baxter.com