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Home » Macro View Impels Baxter to Split in Two
Macro View Impels Baxter to Split in Two
Baxter Thursday announced strategic plans to split the company into two new independent, global healthcare businesses — one dedicated to developing innovative medical products and the other focused on biopharmaceuticals.
CEO Robert L. Parkinson, Jr., attributed the decision to “diverging business dynamics and the rapidly changing macro-environment.”
Parkinson will head the medtech venture, which will retain the Baxter International name. It will focus on a broad portfolio of intravenous solutions, drug delivery systems, and premixed and other injectable drugs, as well as inhalation anesthetics and hospital-based biosurgery products. The devices business will include dialysis product company Gambro AB, which Baxter acquired for $3.9 billion last year.
The biopharmaceuticals company will consist of a diverse portfolio of recombinant and plasma-based proteins to treat hemophilia and other bleeding disorders, as well as plasma-based therapies to treat immune deficiencies, alpha-1 antitrypsin deficiency and other chronic and acute blood-related conditions. It will be helmed by Ludwig N. Hantson, currently president of Baxter’s BioScience unit. Baxter has not decided on a name for the new pharma company.
Both corporate headquarters will be based in northern Illinois. The transaction is expected to be complete by mid-2015. — Nick Otto
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