Sector News

Baxter Announces Baxalta as the Name of New Global Biopharmaceutical Company

September 11, 2014
Life sciences
(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.
 
Source: Baxter

comments closed

Related News

October 2, 2022

GSK names Julie Brown, a 25-year AstraZeneca veteran, its first woman CFO

Life sciences

Five years ago, GSK made headlines when it hired Emma Walmsley to become the first woman to run a major pharmaceutical company. Now the Big Pharma has brought in another woman to control the company’s finances. Julie Brown will be GSK’s next chief financial officer. Brown, currently the chief operating and financial officer at fashion and beauty brand Burberry Group, is set to replace Iain Mackay.

October 2, 2022

Moderna creates new launch preparation role, poaches Novartis exec as manufacturing lead

Life sciences

Moderna created a new role responsible for “building out the company’s organization to support its growing pipeline.” Starting first thing 2023, Juan Andres, Moderna’s manufacturing head, will step into this new role under the title president of strategic partnerships and enterprise expansion, the company said Thursday.

October 2, 2022

Torrent Pharma to acquire Curatio for $245.16m

Life sciences

The latest takeover is anticipated to boost the presence of Torrent in the dermatology segment. Indian company Torrent Pharmaceuticals has signed a definitive agreement for the complete acquisition of Curatio Healthcare for $245.16m (Rs20bn).