Updated on 13 May 2015
Baxter acquires leukemia drug from Sigma-Tau Finanziaria
Singapore: Baxter has acquired Oncaspar (pegaspargase) product portfolio, a first-line biologic used as part of a multi-agent chemotherapy regimen to treat acute lymphoblastic leukemia (ALL), from Sigma-Tau Finanziaria to tap the growing oncology markets for rare and orphan diseases.
By mid-year, Baxter expects to establish the bioscience business as a separate, publicly traded, innovation-oriented biopharmaceutical company, Baxalta Incorporated.
Oncaspar is currently marketed in the United States, Germany, Poland and certain other countries and has approximately $100 million in annual sales. ALL is a rapidly progressing cancer of the white blood cells responsible for more than 80 percent of childhood leukemia cases.
"The Baxter BioScience legacy of delivering solutions for orphan diseases and small patient populations and our global presence positions us well to accelerate the growth of the Oncaspar portfolio globally," said Dr Ludwig Hantson, president, Baxter BioScience. "With Oncaspar, Baxalta will bring an established standard of care therapy to more patients worldwide through the pursuit of additional indications and regulatory approvals across the globe."
"Oncaspar is a strong strategic fit for our rapidly expanding oncology business, as it complements our R&D programs in hematologic cancers," added Mr David Meek, head of oncology, Baxter BioScience. "The acquisition provides an immediate commercial footprint in the United States and Europe with a heritage of expertise in treating this challenging disease."