Following the split of Baxter International’s global business, the company has renamed the biopharmaceuticals business, Baxalta, Inc. The corporate headquarters for both companies will be located in northern IL. Robert L. Parkinson, Jr., is serving as chairman and chief executive officer of the medical products company, which will retain the Baxter International name, and Ludwig N. Hantson, Ph.D., president of Baxter BioScience, is now chief executive officer of Baxalta. 
 
”The naming of Baxalta is the latest milestone on our journey to becoming a separate, independent company,” said Dr. Hantson. ”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.’ Both companies share a deep commitment to meeting the needs of current and future patients, which will continue to inspire us going forward.”
 
Baxalta, a provider of therapeutic treatments for rare conditions, chronic diseases or limited treatment options, expects approximately $6 billion in global revenues. Baxalta’s portfolio consists of recombinant and plasma-based proteins to treat hemophilia and other bleeding disorders, and plasma-based therapies to treat immune deficiencies, alpha-1 antitrypsin deficiency, burns and shock, and other chronic and acute blood-related conditions. The company is expanding to address unmet medical needs in niche areas of oncology, as well as technology platforms such as gene therapy.
 
The new, publicly traded company is expected to launch in mid-2015 on the New York Stock Exchange (NYSE) under the symbol BXLT. The Baxalta logo will be revealed at a later date.