Baxter (BAX -0.2%) gets initiated at Bernstein this morning with an Outperform, asserting that...
Wednesday, November 14, 2012, 12:32 PM ETBaxter (BAX -0.2%) gets initiated at Bernstein this morning with an Outperform, asserting that the threat from Biogen's (BIIB) late-stage hemophilia drug research to BAX's dominant drug, Advate, is overblown. The firm says patients are reluctant to switch treatments, and the area where BIIB's drug looks strongest - treating sudden bleeding episodes - accounts for just 25% of Advate's US sales. Additionally, BAX also has late-stage data on an Alzheimer's drug due next year.
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