(BUSINESS WIRE) – Baxter International Inc. (NYSE:BAX) announced today that Baxalta Incorporated will be the name of the new, publicly traded biopharmaceutical company that is expected to launch in mid-2015.
Upon completion of the separation, Baxalta plans to trade on the New York Stock Exchange (NYSE) under the symbol BXLT. Baxter International will continue trading on the NYSE under the symbol BAX. As previously announced, the corporate headquarters of both companies will be located in northern Illinois.
“The naming of Baxalta is the latest milestone on our journey to becoming a separate, independent company,” said Ludwig Hantson, Ph.D., president of Baxter BioScience, who will be chief executive officer of Baxalta. “The name Baxalta celebrates and sustains Baxter’s heritage as an innovator with a legacy of leadership by incorporating the Baxter name and coupling it with ‘alta,’ which derives from altus, Latin for ‘high’ or ‘profound.’ Both companies share a deep commitment to meeting the needs of current and future patients, which will continue to inspire us going forward.”
Baxalta will have approximately $6 billion in global revenues and be a leading provider of therapeutic treatments that save, sustain and improve the lives of people with rare conditions, chronic diseases or limited treatment options. Supported by advanced technical and manufacturing expertise, Baxalta’s broad pipeline is built on a legacy of innovation in bleeding disorders and immunology, and is expanding to address unmet medical needs in niche areas of oncology, as well as technology platforms such as gene therapy.
The Baxalta logo and full visual identity will be unveiled at a later date.