Baxter International Inc. plans to form a new global innovation and R&D center in Cambridge, Mass., for the company's biopharmaceuticals business, which is expected to become a separate, independent global company known as Baxalta Inc. in mid-2015.
According to a press release, the new location will position the company to enhance patient care by advancing and building its innovation pipeline, which is centered on core areas of expertise in hematology, immunology and through technology platforms like gene therapy and biosimilars.
The company expects to house approximately 400 R&D employees at the innovation center, as well as its business development, oncology and biosimilars teams. The R&D positions that will relocate to the new center are currently based in California and Europe. Baxter says its new biopharmaceutical company will maintain certain R&D operations at its location in Vienna, Austria, and will have its corporate headquarters in northern Illinois.
"Critical elements to our success as an independent biopharmaceuticals company will be our ability to accelerate innovation, optimize R&D productivity, and deliver on our promise to patients. Joining this unmatched biotech community is an important step," said Ludwig Hantson, Ph.D., president of Baxter BioScience.
The company expects to open the first phase of the 200,000-square feet in leased space later this year. Read the full release