Baxter International, Inc. Names New Spinoff “Baxalta” As It Sets IPO Stage

September 11, 2014

By Riley McDermid, BioSpace.com Breaking News Sr. Editor

Baxter International’s new biopharma spinoff set to debut in mid-2015 has been dubbed Baxalta Inc. and will be headquartered in Northern Illinois, the company said in a statement late Wednesday.

It will trade on the New York Stock Exchange under the ticker symbol BXLT.

"The naming of Baxalta is the latest milestone on our journey to becoming a separate, independent company," said Ludwig Hantson, president of Baxter BioScience, who will be chief executive officer of Baxalta, in a statement.

Hantson said the name Baxalta “celebrates and sustains Baxter's heritage as an innovator with a legacy of leadership” by incorporating the Baxter name and coupling it with 'alta,' which derives from altus, Latin for 'high' or 'profound.'

“Both companies share a deep commitment to meeting the needs of current and future patients, which will continue to inspire us going forward,” he added.

Baxter specializes in the treatment of bleeding disorders and saw revenue of $6 billion in 2014.