Baxalta
 |
|
| Subsidiary | |
| Industry | Biotechnology |
| Fate | Acquired by Shire |
| Founded | 2015 Spun off from Baxter International |
| Defunct | 2016 |
|
Key people
|
Ludwig N. Hantson (president and CEO) |
| Products | Hematology, Immunology, Pulmonology |
|
Number of employees
|
16,000 |
| Website | www |
Baxalta (Bax, taken from its former parent company and Alta taken from the Latin Altus which translates as 'high' or 'profound') was a biopharmaceutical company founded on 1 July 2015 after its parent company, Baxter International, spun off biopharmaceutical division. with revenue of $6 billion.
Baxalta inherited all of its parent company's on-the-market treatments, focused on hemophilia, The company aims 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. Baxalta also acquired the blockbuster leukemia drug Oncaspar from Sigma-Tau Finanziaria S.p.A. for US$900 million.
In August 2015, Shire Plc made an unsolicited $30.6 billion stock offer for the company 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. This deal would create the largest global biotech company focused solely on rare diseases.
In January 2016, after six months of negotiations, the company agreed to be acquired by Shire for $32 billion. The deal was completed on 3 June 2016.
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