Baxter’s Largest Plant Closed as Helene Damages Inventory

Baxter International Inc. has closed its biggest manufacturing facility after it was damaged when Hurricane Helene ripped through the US Southeast, causing widespread power outages and flooding.

Baxter’s North Cove plant, located in Marion, North Carolina, is the largest manufacturer of intravenous and peritoneal dialysis solutions in the country. The disruption is expected to negatively impact the company’s financial results, according to a statement it released Sunday.

The Deerfield, Illinois-based company’s shares pared a drop of as much as 4.1% in early trading Monday before trading down 2.3% to $38.01 as of 12:01 p.m. in New York.

Helene struck Florida ...