Baxalta Inc., the biopharma company that will separate from Baxter in mid-2015, will be headquartered in Bannockburn, IL. The lease agreement for the approximately 260,000 sq.-ft. facility extends more than 10 years.
 
Upon completion of the separation, Baxalta will have approximately $6 billion in global revenues and will continue its efforts to provide therapeutic treatments for 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.
 
”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, Ph.D., president of Baxter BioScience, who will be chief executive officer of Baxalta.