Firm will split off its biopharmaceuticals business from medical products
US drugmaker Baxter International is spinning off its biopharmaceuticals business to create two independent companies.
The biopharma unit will include Baxter’s existing plasma- and recombinant protein-based drugs for haemophilia, along with treatments for other blood-related conditions. The company stated that it will look to add to its pipeline of treatments and diagnostics for bleeding disorders through collaborations and acquisitions.
The remaining ‘medical products’ outfit includes Baxter’s dialysis equipment, as well as intravenous drug delivery systems, anaesthetics and surgical equipment. That business will aim to grow by increasing its geographical reach and streamlining costs.