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]

Baxalta
Subsidiary
IndustryBiotechnology
FateAcquired by Shire
Founded2015
Spun off from Baxter International
Key people
Ludwig N. Hantson (president and CEO)
ProductsHematology, Immunology, Pulmonology
Number of employees
16,000[1]
Websitewww.baxalta.com

Company historyEdit

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. Subsequently, Shire was acquired by Takeda for $62 billion in January 2019.[10][11]

ReferencesEdit

  1. ^ a b c 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. ^ 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, SA Editor Yoel (2019-01-08). "Takeda Pharmaceutical completes Shire acquisition". Seeking Alpha. Retrieved 2019-01-23.