Baxalta
Subsidiary of Takada pharmaceuticals From Wikipedia, the free encyclopedia
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 type | Subsidiary |
|---|---|
| NYSE: BXLT | |
| Industry | Biotechnology |
| Founded | 2015 (Spun off from Baxter International) |
| Fate | Acquired by Shire |
| Headquarters | |
Key people | Ludwig N. Hantson (president and CEO) |
| Products | Hematology, Immunology, Pulmonology |
Number of employees | 16,000[1] |
| Parent | Takeda Pharmaceutical Company |
| Website | www |
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]
References
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