Baxter selects Bannockburn for new Baxalta HQ

Deerfield-based Baxter International Inc. said that Baxalta Inc., the biopharmaceutical company that is expected to separate from Baxter in mid-2015, will be headquartered at 1200 Lakeside Drive in Bannockburn.

The long-term lease agreement for the approximately 260,000 square foot building extends for more than a decade.

“Selecting Baxalta's global headquarters is a key milestone on our journey to becoming a leading, independent biopharmaceutical company, and reaffirms our commitment to Northern Illinois and our strong employee base here,'' said Ludwig Hantson, president of Baxter BioScience, who will be CEO of Baxalta.

Upon completion of the separation, Baxalta will have approximately $6 billion in global revenues and will be a leading provider of therapeutic treatments that save, sustain and improve the lives of people with rare conditions, chronic diseases or limited treatment options. Supported by advanced technical and manufacturing expertise, Baxalta's broad pipeline is built on a legacy of innovation in bleeding disorders and immunology, and is expanding to address unmet medical needs in niche areas of oncology, as well as technology platforms such as gene therapy.

Baxalta plans to trade on the New York Stock Exchange under the symbol BXLT. Baxter International will continue trading on the NYSE under the symbol BAX.