Baxter International Inc. (BAX - Free Report) recently announced the FDA approval and launch of its ready-to-use cardiovascular medication platform – Eptifibatide.
Eptifibatide is specially formulated for medical treatment of acute coronary syndrome (“ACS”), heart attacks and other emergency conditions. Currently, the platform is available in the United States.
Not to forget, Baxter premixed drugs adhere to strict Current Good Manufacturing Practice (cGMP) regulations that are established and monitored by the FDA.
Eptifibatide is a platelet aggregation inhibitor, which prevents platelets from clotting. Apart from ACS, Eptifibatide indicated for treatment of patients undergoing percutaneous coronary intervention (PCI).
Eptifibatide uses Baxter’s proprietary GALAXY container technology. GALAXY is a non-PVC and non-DEHP system that provides premixed medicines a longer shelf life at room temperature.
Another Cardiovascular Medication Platform
Last year, Baxter announced the FDA approval of Bivalirudin in 0.9 percent Sodium Chloride Injection (bivalirudin) — a ready-to-use cardiovascular medication platform for PCI.
Baxter provides a wide range of high-value generic injectable medicines that treats some of the most pressing healthcare needs.
Per business intelligence provider GBI Research, the cardiovascular disease market is expected to reach a worth of $146.4 billion by 2022, at a modest compound annual growth rate of 1.8% from 2015.
Favorable Tidings on Regulatory Front
Earlier this year, Baxter announced the enrollment of the first group of patients under a U.S. clinical trial for the company’s flagship peritoneal dialysis (PD) solution generation system. Notably, the FDA has also approved the trial.
For investors’ notice, the system is not yet available for use by patients. The innovative system is designed to be more flexible toward meeting individual patient needs and simplifying the way clinicians manage the therapy.
Baxter’s other kidney care products include HDx Enabled by THERANOVA dialysis therapy for ESRD patients.
In a year’s time, shares of this Zacks Rank #3 (Hold) company have gained 10.2% compared with the industry's 5.9% rally. The current level also compares favorably with the S&P 500 index's return of 2.1% over the same time frame.
Want More From the MedTech Industry?
Other better-ranked stocks from the MedTech space are ABIOMED, Inc. (ABMD - Free Report) , IDEXX Laboratories, Inc. (IDXX - Free Report) and Wright Medical Group N.V. (WMGI - Free Report) , each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
ABIOMED’s long-term expected earnings growth rate is projected at 27.7%.
IDEXX Laboratories delivered a positive earnings surprise in each of the trailing four quarters, the average being 7.2%.
Wright Medical Group has a long-term expected earnings growth rate of 11%.
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