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                   Baxter International Inc. and Subsidiaries

         Exhibit 11.1 - Computation of Primary Earnings Per Common Share


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(Unaudited - in millions, except per share data)              Three Months Ended
                                                                       March 31,
                                                              1995          1994

                                                                 
Net income available for common stock                         $145          $131
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Shares
  Weighted average number of common
    shares outstanding                                         281           277
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Primary earnings per common share                            $0.52         $0.47
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