Baxter International announced plans to create two separate, independent healthcare companies - one focused on developing and marketing biopharmaceuticals and the other on medical products.
The medical products business, which will keep the Baxter name, includes a portfolio of intravenous and nutritional therapies, drug delivery systems and administration sets, premixed and other injectable drugs, as well as inhalation anesthetics and hospital-based biosurgery products.
The new biopharmaceuticals company, which offers treatments for hemophilia, bleeding disorders, immune deficiencies, and chronic and acute blood-related conditions, has yet to be named.
The split is expected to be completed by mid-year 2015, subject to market, regulatory and other conditions.
Read the Baxter press release