Baxter International Inc (NYSE:BAX). BAX recently received the FDA approval of Altapore Shape Bioactive Bone Graft — the latest addition to the company’s next-generation bone graft substitute product line. The approval is likely to provide Baxter’s Advanced Surgery Advanced Surgery business line a substantial boost.
Notably, the entire Altapore product line has been developed to improve bone growth with optimized porosity that promotes vascularization, which plays a key role in the bone formation process by providing oxygen, nutrients and growth factors crucial for bone development.
Altapore Shape at a Glance
Altapore Shape is an implant developed to fill bony voids or gaps of the skeletal system, including in the pelvis, extremities and posterolateral spine that are surgically created or result from trauma. Altapore Shape can be utilized by itself, with autograft as a bone graft extender or with autogenous bone marrow aspirate.
Benefits of Altapore Shape
A recent clinical study demonstrates posterolateral fusion success related to improved patient outcomes, which includes reduced pain from baseline.
Altapore Share has been developed to boost bone growth and help achieve fusion that can lead to reduction in pain and other improved clinical outcomes for patients.
The introduction of this new format to the Altapore product line can enable surgeons with versatile tools to advance the art of healing and boost clinical outcomes during a surgery.
Recent Development
In May, Baxter received the CE marking and regulatory approval from Australia’s Therapeutic Goods Administration (TGA) for the Evo IQ Syringe Infusion System. The system has been developed to optimize efficiency for clinicians, thereby enhancing flexibility to help meet future demands. This approval is likely to strengthen its Medication Delivery segment and global presence.
Market Prospects
Per a report by Medgadget, the global bone grafts and substitutes market was valued at $3.05 billion in 2019 and is anticipated to witness a robust CAGR of 5.5% over the forecast period (2019-2027).
Hence this development is a well-timed one for Baxter.
Price Performance
Over the past year, shares of this Zacks Rank #4 (Sell) stock company have gained 3.9% against the industry’s decline of 7.7%.
Stocks to Consider
Some better-ranked stocks from the broader medical space include Quest Diagnostics Inc. DGX, West Pharmaceutical Services (NYSE:WST), Inc. WST and Laboratory Corporation of America (NYSE:LH) Holdings LH. While Quest Diagnostics and Laboratory Corporation sport a Zacks Rank #1 (Strong Buy), West Pharmaceutical carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Quest Diagnostics has an estimated long-term earnings growth rate of 7.6%.
West Pharmaceutical has a projected long-term earnings growth rate of 9.2%.
Laboratory Corp. has an estimated long-term earnings growth rate of 6.1%.
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Quest Diagnostics Incorporated (NYSE:DGX): Free Stock Analysis Report
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