The European Medicines Agency issued a warning on March 24, 2026 that Baxter International’s ifosfamide‑containing cancer drugs will remain in shortage across the EU well into the first quarter of 2027.
The shortage affects Holoxan, Tronoxal, Mitoxana, and the 500 mg/1 g/2 g powder‑solution injection. The EMA first published information on February 13, 2026, noting the start of the shortage on February 12, 2026, and a Belgian FAMHP notice had already reported Holoxan unavailability as of January 28, 2026.
The EMA warning is not a ban but signals significant supply constraints. Regulators are monitoring the situation and working with Baxter, while hospitals are advised to prioritize patients, consider dose adjustments, and explore alternative therapies.
The shortage could reduce Baxter’s oncology revenue in the EU. Baxter has previously experienced revenue hits from supply disruptions, such as the $70 million loss in Q4 2017 after Hurricane Maria and a recent $X hit after Hurricane Helene. CFO Joel Grade noted that hurricane‑related changes in infusion protocols had already softened demand, illustrating how external events can affect Baxter’s sales.
Investors reacted to Baxter’s lower fiscal 2026 guidance of $1.85‑$2.05 per share versus the consensus of $2.25, reflecting concerns about revenue impact from the shortage and other operational headwinds.
Baxter has faced earlier shortages, including cyclophosphamide, and continues to work with regulators to restore supply. The EMA warning underscores the critical role of ifosfamide, a drug listed on the EU Union list of critical medicines.
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