Baxter International Inc. has announced that the name of the new, publicly traded biopharmaceutical company that is expected to launch in mid-2015 will be Baxalta Incorporated.
In May, Baxter announced its plans to create two separate, independent healthcare companies - one focused on developing and marketing biopharmaceuticals and the other on medical products.
"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," said Ludwig Hantson, Ph.D., president of Baxter BioScience, who will be CEO of Baxalta.
The corporate headquarters of both companies will be located in northern Illinois.
Read the Baxter press release.