Morgan Keegan Comments On FDA Safety Alert On CSL's Vivaglobin For Baxter International

In a report published by Morgan Keegan, Baxter International (NYSE: BAX) saw an FDA safety alert on CSL's Vivaglobin, but it should present minimal risk to HyQ.

Morgan Keegan said that, on Friday, the FDA issued a safety communication regarding postmarketing reports suggesting the risk of serious thrombotic events associated with CSL Behring's Vivaglobin subcutaneous IgG. “We see minimal risk to Baxter's HyQ commercialization strategy from the FDA alert. There are no changes to our Outperform rating and $60 price target. We would buy Baxter shares at current levels. Although the risk of arterial and venous thrombosis following infusion of IVIG is broadly known by physicians, it now appears that there could be a degree of risk associated with subcutaneous administration of Vivaglobin. Currently, the FDA is calling for increased vigilance when using Vivaglobin.”

Baxter International closed yesterday at $52.60.