Baxter Names New Biopharmaceutical Company Baxalta

Baxter International Inc. announced on Sept. 10 that Baxalta Incorporated will be the name of the new, publicly traded biopharmaceutical company that is expected to launch in mid-2015.

In May 2014, the company announced plans to create two separate, independent global healthcare companies, one focused on developing and marketing biopharmaceuticals and the other on medical products.

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. The corporate headquarters of both companies will be located in northern Illinois.

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, the company reports in a statement. The company’s pipeline includes therapies for bleeding disorders and immunology, and is expanding to address unmet medical needs in oncology, as well as technology platforms such as gene therapy.

The Baxalta logo and full visual identity will be unveiled at a later date, the company reports.

Source: Baxter