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You are here:  Home  >  Tri-County Economy  >  East Ventura County  >  Current Article

Baxter Bioscience becomes Baxalta

By   /   Wednesday, July 1st, 2015  /   Comments Off on Baxter Bioscience becomes Baxalta

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East Ventura County has a major new employer.

Deerfield, Ill.-based Baxalta Inc. was launched July 1 as health care giant Baxter International split into two companies.

Former Baxter Bioscience operations in Thousand Oaks and Newbury Park are part of the Baxalta spinoff. The operations employed about 1,100 people in East Ventura County, according to the Business Times Book of Lists.

A statement described Baxalta as “a global biopharmaceutical company dedicated to delivering transformative therapies to patients with orphan diseases and underserved conditions.”

The statement added that “the company continues to advance its well-established leadership position in hematology and immunology and seeks to expand its oncology portfolio for patients with limited treatment options.”

Baxalta said it plans to launch 20 new products by 2020. The shares trade on the New York Stock Exchange under the ticker symbol “BXLT.”

Baxalta launches with a rich heritage in pioneering innovations and strategic partnerships,” said Ludwig Hantson, Baxalta’s CEO.

Baxalta’s spinoff from Baxter International’s legacy medical products business has been in the works for months. Baxter receives a $4 billion cash dividend and retains a 19.5 percent stake in Baxalta. Baxter shareholders as of June 17 received one share of Baxalta for each share of Baxter.

 

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