Standard & Poor's (NYSE:MHP) Ratings Services said its 'A' ratings and positive outlook on Baxter International Inc are not affected by the company's continuing infusion pump problems given the negligible financial impact. However, S&P said it will monitor the company's progress in resolving these issues to determine if any potential loss in customer confidence translates into broader concerns regarding the company's franchise.
The Food and Drug Administration classified the company's corrective action on some of its pump devices as a Class I recall. Class I recalls are generally designated for dangerous or defective products that could cause serious health problems or death. The affected medical devices deliver three different intravenous fluids to patients at the same time.
Baxter International Inc. announced final Phase I/II data for its adjuvant-free investigational pandemic H5N1 influenza vaccine and plans to initiate a Phase III clinical trial of the candidate vaccine in Europe to confirm the study results. The Phase I/II study indicated that Baxter's H5N1 candidate vaccine is highly immunogenic at low doses, and induces substantial levels of cross immunity against widely divergent H5N1 strains.