Morgan Stanley Provides Color on Baxter

Morgan Stanley provided color on Baxter BAX. In a research report published today, the rating agency commented on Biogen's BIIB new product, which does not seem to be threatening Baxter's products in the same field. In the report, Morgan Stanley states, “New pharmacokinetic data for Biogen's long-acting rFVIII compound suggests the drug is unlikely to improve dosing frequency beyond 2x weekly. In our view, this dosing profile will not provide a material competitive advantage over current therapies that require three injections per week. This development confirms our prior view but may ease consensus fears over Baxter's recombinant franchise and provide some relief to the stock to the extent concerns over rFVIII competitive risk continue to pressure the multiple.” At the moment, Morgan Stanley has an Overweight rating placed on the company's stock. On Tuesday, Baxter added 0.55% to its value to finish the day at $60.21.