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Baxter announced that its new biopharmaceutical arm, scheduled to become independent from Baxter in 2015, will be located in Bannockburn, Illinois.
Baxalta will have sales of $6 billion next year in global revenues when it breaks away from Baxter in mid-2015, and the company just announced it will do the bulk of this business from its new headquarters in Northern Illinois. The lease for the 260,000-square-foot Bannockburn location will reportedly last more than 10 years.
The new company, which will have a focus on bleeding disorders and immunology, will be led by future Chief Executive Officer Ludwig Hantson, PhD, the current president of Baxter BioScience. He said in a statement that the selection of the Illinois location is a “key milestone on our journey to become a leading, independent biopharmaceutical company.”