HEALTH

Baxter Buying European Firm: The acquisition by Baxter International Inc. would create a blood-products powerhouse. Baxter’s purchase of Immuno International of Austria for about $715 million had the approval of both companies’ boards but still needs approval from European Union and U.S. regulatory authorities, they said in a joint statement. Vienna-based Immuno is a leading manufacturer of biopharmaceutical products. Merging it with Baxter’s biotechnology group would create a major provider of products and services for transfusion medicine, including biopharmaceuticals. The two companies had combined 1995 sales of $1.6 billion and employed 8,900 people. Baxter is based in Deerfield, Ill.