FaegreBD Corporate Team Advises Baxter in Completion of Baxalta Spin-off

A team led by Roger Rhoten advised Baxter International Inc. in the spin-off of Baxalta Incorporated, its biopharmaceuticals business, completed on July 1. Both companies are now trading on the New York Stock Exchange, with Baxter continuing to trade under the “BAX” ticker symbol and Baxalta trading under the “BXLT” ticker symbol.

Along with Rhoten, Ike Willett played a critical role in leading a global team of Baxter professionals in negotiating and implementing post-spin cross-company manufacturing and service arrangements. Other team members included Amy Seidel, John Haveman, Heather Manning and Tiffany Chan.

Following the separation, Baxter retains its broad, leading global footprint built around fluid systems, renal therapies, parenteral nutrition, inhalation anesthetics and biosurgery products. It remains focused on developing new healthcare solutions for hospital, in-center and home based therapies.

Baxalta is a global biopharmaceutical leader developing, manufacturing and commercializing therapies for orphan diseases and underserved conditions in hematology, oncology and immunology. Baxalta’s broad and diverse pipeline includes biologics with novel mechanisms, as well as small molecules and advanced technology platforms such as gene therapy.