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Baxter International Inc. BAX recently announced the global launch of the latest version of its next-generation platform, PrisMax 2. The PrisMax 2 system aims to help streamline the delivery of continuous renal replacement therapy (“CRRT”) and other organ support therapies while allowing hospitals the flexibility to meet the requirements of the intensive care unit (ICU).
With the latest launch, Baxter aims to fortify its ground in the global Acute Therapies business.
A Few Words on PrisMax 2
The PrisMax 2 system boasts latest solutions within Baxter’s TrueVue digital health portfolio, as well as the PrismaLung+ blood-gas exchanger, which provides extracorporeal (situated or occurring outside the body) carbon dioxide removal (ECCO2R) therapy to enable acute respiratory dysfunction management.
Further, the PrisMax 2 system provides access to TrueVue digital health solutions to enhance patient care as well as deliver value to hospitals.
The PrisMax 2 and TrueVue will soon be available in the United States and various countries throughout Europe. Further, PrismaLung+ is available in select markets in western Europe, but is not currently cleared or approved for use in the United States.
Significance of the Launch
The PrisMax 2 system uses Baxter’s technology of its market-leading Prismaflex and PrisMax systems, and has been developed on the basis of direct feedback from clinicians and customers worldwide. The system is designed to optimize treatment accuracy, efficacy and system performance.
Apart from offering TrueVue and PrismaLung+, new advancements include updates to the system to offer enhanced visibility of critical information and simplified step-by-step onscreen instructions.
The PrismaLung+ blood-gas exchanger, which can be used on the PrisMax 2 system to deliver ECCO2R therapy, enables treatment of patients who may also require renal replacement therapy or other organ support therapies. This is possible without increasing any complication of delivery, staff training or new capital expenditure requirements.
Per management, the PrisMax 2 system has been developed with the aim of expanding treatment possibilities by making CRRT and other extracorporeal organ support therapies more accessible.
Per a report by MarketsAndMarkets, the global CRRT market is projected to reach $1,532.3 million by 2022 from $1,092.5 million in 2017 at a CAGR of 7%. Factors like increasing prevalence of acute renal failure and high prevalence of diabetes are likely to drive the market.
Given the market potential, the latest launch is expected to significantly strengthen Baxter’s global business.
Of late, Baxter has witnessed a few notable developments across its businesses.
The company, in April, reported solid worldwide sales during first-quarter 2021 with the Acute Therapies segment being the primary driver.
Baxter, in March, received the FDA’s clearance of its next-generation Artificial Kidney 98 (AK 98) dialysis machine. Notably, the AK 98 machine is designed to be a portable and easy-to-use system for administering hemodialysis treatments.
The same month, the company entered into an agreement with Moderna, Inc. MRNA with respect to the COVID-19 vaccines. Per the agreement, Baxter BioPharma Solutions would provide fill/finish sterile manufacturing services and supply packaging for approximately 60-90 million doses of Moderna’s vaccine in 2021.
Shares of the company have lost 9.7% in the past year against the industry’s 14.8% growth and the S&P 500's 38.5% rise.
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Zacks Rank & Key Picks
Currently, Baxter carries a Zacks Rank #3 (Hold).
Some better-ranked stocks from the broader medical space are Illumina, Inc. ILMN and DaVita Inc. DVA, each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Illumina’s long-term earnings growth rate is estimated at 7%.
DaVita’s long-term earnings growth rate is estimated at 14.4%.
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