Baxter International Inc. (BAX) and Nycomed recently received the U.S. Food and Drug Administration (FDA) approval of TachoSil, an absorbable fibrin sealant patch that can be used in addition to hemostasis to stop bleeding during cardiovascular surgeries. Baxter expects to launch the product in the U.S. in the second half of 2010.
TachoSil is the first and only adjunctive hemostatic agent of its kind that is available in the U.S. TachoSil combines a collagen patch with a coating of human coagulation factors and can be applied directly to the bleeding area in dry or wet form. This addresses the biggest challenge of bleeding in cardiovascular surgeries.
TachoSil is a patented Nycomed product and Baxter has exclusive rights to market and distribute the product in the U.S. TachoSil is presently available in more than 50 markets outside the U.S.
Nycomed is a global pharmaceutical company focusing on branded medicines in respiratory and inflammatory diseases, gastroenterology, pain, osteoporosis and tissue management. Furthermore, the company has an extensive range of OTC products in its portfolio.
The new product approval expands Baxter’s portfolio of BioSurgery products and will cater to the company’s overall top-line growth.
Baxter is a leading global medical products and services company that develops, manufactures and markets products to treat hemophilia, kidney disease, infectious diseases, etc. Baxter’s main competitors include Becton, Dickinson and Company (BDX) and Johnson & Johnson (JNJ).
Presently, we have a Neutral recommendation for Baxter.
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