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Baxalta

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Baxalta
Company typeSubsidiary
NYSE: BXLT
IndustryBiotechnology
Founded2015; 9 years ago (2015) (Spun off from Baxter International)
FateAcquired by Shire
Headquarters
United States Edit this on Wikidata
Key people
Ludwig N. Hantson (president and CEO)
ProductsHematology, Immunology, Pulmonology
Number of employees
16,000[1]
ParentTakeda Pharmaceutical Company
Websitewww.baxalta.com Edit this on Wikidata

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

[edit]

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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  1. ^ a b c 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. ^ a b 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.


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