Baxalta

Baxalta
Subsidiary
Industry Biotechnology
Fate Acquired by Shire
Founded 2015
Spun off from Baxter International
Key people
 Ludwig N. Hantson (president and CEO)
Products Hematology, Immunology, Pulmonology
Number of employees
 16,000[1]
Website www.baxalta.com

Baxalta (Bax from the name of its former parent company; alta a Latin adjective meaning 'high' or 'profound'[2]) is a biopharmaceutical company founded on 1 July 2015 after its parent company, Baxter International, spun off biopharmaceutical division.[1] The company began its operation with a revenue of $6 billion.[3]

Company history

Baxalta inherited all of its parent company's on-the-market treatments, focused on hemophilia, The company aimed to launch 20 in-development projects by 2020, heaping $2.5 billion in annual sales. Before being spun off, Baxalta acquired SuppreMol (a German company) for US$225 million.[4] Baxalta also acquired the blockbuster leukemia drug Oncaspar from Sigma-Tau Finanziaria S.p.A. for US$900 million.[1][5]

In August 2015, Shire Plc made an unsolicited $30.6 billion stock offer for the company[6][7] increasing the Baxalta share price over 16%. Baxalta investors would be set to receive 0.1687 of Shire's American Depositary Receipts for every share they hold, representing a premium of 36%, compared to the company's stock price on August 3.[8] This deal would create the largest global biotech company focused solely on rare diseases.[8]

In January 2016, after six months of negotiations, the company agreed to be acquired by Shire for $32 billion.[9] The deal was completed on 3 June 2016.

References

  1. 1 2 3 Ben Reynolds. "Baxalta: A Rare Undervalued Biopharmaceutical Company". cnafinance.com.
  2. ↑ Timmins, Peter (January 2015). "Industry Update". Therapeutic Delivery. 6 (1): 9–15. doi:10.4155/tde.14.103.
  3. ↑ "Baxalta: Baxter's newly named biopharma spinout has had its ups and downs". FierceBiotech.
  4. ↑ Staff (1 April 2015). "Baxter Acquires SuppreMol and Its Immunoregulatory Therapy Pipeline". News: Industry Watch. Genetic Engineering & Biotechnology News (Paper). 35 (7): 10.
  5. ↑ "Baxter Expands Cancer Therapies With $900M Oncaspar Buy". law360.com.
  6. ↑ Tess Stynes (4 August 2015). "Shire Makes Unsolicited $30 Billion Bid for Baxalta". WSJ.
  7. ↑ "Shire Offers $30B for Baxalta". GEN.
  8. 1 2 Kevin McCoy, USA TODAY (4 August 2015). "Pharma mania: Shire offers $30B for Baxalta". USA TODAY.
  9. ↑ "Shire, Baxalta Tie the Knot in $32B Merger | GEN". Genengnews.com. 2016-01-11. Retrieved 2017-01-27.


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