Baxter's New Biopharma Baxalta to Have Headquarters in Illinois

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.”