News Release

BAXTER SIGNS AGREEMENT TO ACQUIRE
IV BUSINESS OF INDIA'S WOCKHARDT LIFESCIENCES


MUMBAI, India, March 7, 2002 – A subsidiary of Baxter International Inc. (NYSE: BAX) announced today it has agreed to purchase the parenteral intravenous business of Wockhardt Lifesciences, a leading Indian manufacturer of IV solutions. The acquisition supports Baxter’s strategy of growth through global expansion.

The acquisition will include manufacturing assets and facilities in cities including Waluj, Maharashtra, Alathur, Tamil Nadu, as well as a sales and marketing team that covers the main private hospitals and medical centers across India.

Carlos Del Salto, senior vice president of Baxter World Trade Corporation, said, “India is a strategic market for Baxter and the acquisition of this business is expected to play an important role in developing the Indian critical care market. The Wockhardt team brings tremendous value to Baxter in terms of their expertise and the ability to extend our IV market reach.”

Baxter’s future plans in India include continued marketing of advanced pain management systems, parental nutrition products and premium IV solutions in Baxter’s patented Viaflex® containers.

Gerard Wallace, president, Baxter Asian operations, said, “This acquisition is expected to provide us with an ideal sales and distribution platform to grow our overall Baxter presence in India.”

Sanjiv Verma, managing director of Baxter’s Indian operations, added, “I am delighted to welcome our new colleagues, and I very much look forward to building upon existing infrastructure and key account relationships across India to accelerate our growth and become a leading player in providing critical care therapies to patients in India.”

The acquisition of Wockhardt’s IV business will be integrated into Baxter’s Medication Delivery business. A total of approximately 500 team members are expected to transition from Wockhardt Lifesciences to Baxter as part of the transaction.

Baxter established operations in India in 1997 by marketing a variety of products including those used to treat patients with kidney disease. Baxter also markets blood collection and storage components, pain management products, in addition to many others products and therapies. Baxter is a leading supplier of continuous ambulatory peritoneal dialysis (CAPD) therapy for people with end-stage renal disease in the country and is setting up a sterile fluid manufacturing plant at Manesar, near Delhi. Prior to the Wockhardt acquisition, Baxter employed approximately 100 team members in three facilities.

Baxter International Inc. is a global medical products and services company that, through its subsidiaries, provides critical therapies for people with life-threatening conditions. Baxter’s products and services in the areas of bioscience (including biopharmaceuticals, vaccines, biosurgery products and transfusion therapies), medication delivery and renal therapy are used by health-care providers and their patients in more than 100 countries.

This news release contains forward-looking statements that involve risks and uncertainties, including technological advances in the medical field, product demand and market acceptance, the effect of economic conditions, actions of regulatory bodies, the impact of competitive products and pricing and other risks detailed in the company's filings with the Securities and Exchange Commission. These forward-looking statements are based on estimates and assumptions made by the management of the company and are believed to be reasonable, though inherently uncertain and difficult to predict. Actual results or experience could differ materially from the forward-looking statements.

FOR ADDITIONAL INFORMATION:

	Media Contacts: Deborah Spak, (847) 948-2349 Sanjiv Verma, (91- 22) 645-0111
	Investor Contacts: Neville Jeharajah, (847) 948-2875 Mary Kay Ladone, (847) 948-3371