Only a portion of the BioSciences unit would compete with Biogens drug. Baxter themselves have a good pipeline for hemophilia as well. But anyway, the BioSciences unit is fairly broad in the areas it produces for.
The math would need to be done to calculate the realistic earnings exposure that Baxter has to the Eloctate threat. Todays reaction doesn't smack of calculators and company filings, but rather of jumpy hands bolting at the first sign of a possible issue. Which by the way has been "out there" for a long time. I'm not in a position at the moment to go through the numbers but hopefully someone can....
Baxter's pipeline arrives later in the game, for now take advantage of the gift the market is presenting. I could understand averaging in over the course of the next month. I've added some already and will add again if market meltdown occurs due to Fed Gov't #$%$.
2012 Operating Profit: $2.8 Billion. Recombinant contributed $2.3 Billion in Sales with 50% margins according to CSFB. This appears to mean that of the $2.8 Billion operating profit, $1.15 Billion of this is from the recombinant franchise. What % of this meaningful contributor is at risk?