Baxalta

Last updated
Baxalta
Company type Subsidiary
NYSE: BXLT
Industry Biotechnology
Founded2015;9 years ago (2015) (Spun off from Baxter International)
FateAcquired by Shire
Headquarters
United States  OOjs UI icon edit-ltr-progressive.svg
Key people
Ludwig N. Hantson (president and CEO)
Products Hematology, Immunology, Pulmonology
Number of employees
16,000 [1]
Parent Takeda Pharmaceutical Company
Website www.baxalta.com   OOjs UI icon edit-ltr-progressive.svg

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] and is now a subsidiary of Takeda Pharmaceutical Company.

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 2016 the company was acquired by Shire for $32 billion. [9] Subsequently, Shire was acquired by Takeda Pharmaceutical Company for $62 billion in January 2019. [10] [11]

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References

  1. 1 2 3 Ben Reynolds. "Baxalta: A Rare Undervalued Biopharmaceutical Company". cnafinance.com. Archived from the original on 2015-07-24. Retrieved 2015-07-23.
  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.
  10. "Takeda Completes Acquisition Of Shire". Asian Scientist Magazine | Science, technology and medical news updates from Asia. 2019-01-21. Retrieved 2019-01-23.
  11. Minkoff, Yoel (2019-01-08). "Takeda Pharmaceutical completes Shire acquisition". Seeking Alpha. Retrieved 2019-01-23.