Dividend.com: Baxter Slips on Downgrade

Baxter Downgraded Amid FTC, Plasma Industry Pressure

Pharma- and medical-device maker Baxter International(BAX Quote) was downgraded by Soleil analysts Monday, following FTC pressure and claims of price collusion in the blood plasma industry.

Soleil downgraded Baxter to a "Hold" from a previous "Buy" rating, and also lowered its price target for the stock from $66 to $49 per share.

The FTC on Monday rejected a merger between Baxter's rival CSL Ltd. and smaller plasma maker Talecris Biotherapeutics, amid antitrust concerns. The FTC ruled that such a merger could substantially reduce competition in the market for plasma-derivative protein therapies. ...