The biopharmaceutical company that is expected to spin off from Baxter International in mid-2015 now has a name: Baxalta Inc.
The name is a combination of Baxter and “alta,” a derivative of “altus,” which is Latin for “high” or “profound,” Baxter said Wednesday.
Baxalta, which Baxter said will be headquartered in northern Illinois, “celebrates and sustains Baxter’s heritage as an innovator with a legacy of leadership,” said Ludwig Hantson, the president of Baxter’s BioScience unit who will become chief executive of the new company.
The $6 billion drugmaker, which will specialize in bleeding disorders and immunology, is expected to trade on the New York Stock Exchange under the ticker symbol BXLT.
Baxter’s medical products unit, which includes dialysis and hospital products, will retain the Baxter International name.
Its decision to name its progeny after itself follows in the footsteps of its north suburban neighbor, Abbott Laboratories.
When the Lake County medical products company spun off its proprietary pharmaceutical unit into a separate firm in Jan. 2013, it bequeathed it the name “AbbVie,” a mash-up of “Abbott” and “Vie,” a reference to the Latin root “vi,” which means life, the company said.
Baxter has yet to unveil the Baxalta logo.
pfrost@tribune.com
