Baxter plans to open R&D center in Massachusetts for Baxalta spinoff

[September 30, 2014]  (Reuters) - Baxter International Inc on Monday said it would form a research and development center in Cambridge, Massachusetts, for the biopharmaceutical business it expects to spin off as a separate company in mid-2015.

The new company, to be called Baxalta, is expected to employ about 400 people in research and development at the Cambridge facility, in addition to employees working on business development, oncology and biosimilars teams.

Its pipeline is focused on hematology and immunology, through technology platforms such as gene therapy and biosimilars, Baxter said.

The company expects to open the first phase of the Cambridge center later this year in 200,000 square feet of leased space.

Baxter has said the corporate headquarters of both companies would be located in northern Illinois.

(Reporting by Susan Kelly in Chicago; Editing by Bernard Orr)

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