Baxter names its brand-new spinoff

Baxter International announced the name ‘Baxalta’ for its new biopharmaceutical spinoff

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According to Baxter, Baxalta will witness approximately $6 billion in global revenues.

The spinoff is expected to be launched in mid-2015 and publicly traded.

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

The corporate headquarters of both companies will be located in Northern Illinois, USA.

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