BAXTER TO RELOCATE BIOSCIENCE DIVISION.Byline: Evan Pondel Staff Writer
GLENDALE - Baxter International Baxter International Inc. (NYSE: BAX), is a global healthcare company with 48,000 employees and 2006 sales of US$10.4 billion. Its headquarters is in Deerfield, Illinois. Inc. will move its bioscience headquarters from Glendale to a larger facility in Thousand Oaks Thousand Oaks, residential city (1990 pop. 104,352), Ventura co., S Calif., in a farm area; inc. 1964. Avocados, citrus, vegetables, strawberries, and nursery products are grown. by the end of summer, company officials said Wednesday.
Baxter's new home is a 426,000-square-foot building formerly occupied by Verizon. The company plans to complete its migration by July 2002.
``We wanted to be closer to our manufacturing,'' said Nancy Lovre, Baxter's director of global communications. ``And we just needed more space.''
The facility will house around 425 employees, with the building's occupants accounting for around $32 million of Baxter's payroll. The bioscience division is integral to Baxter's business as its sales generated $2.8 billion in 2001, while total revenue for the Deerfield, Ill.-based company was $7.6 billion in 2001.
``Bioscience is a major growth engine for the company,'' said John Calcagnini, analyst with CIBC World Markets CIBC World Markets is the investment banking division of the Canadian Imperial Bank of Commerce. It helps governments, large companies, and other large institutions obtain capital and credit and is a primary dealer in U.S. Treasury securities. in Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. . ``It's a natural fit for the company to move to Thousand Oaks.''
Baxter's bioscience unit produces proteins from plasma that treat hemophilia hemophilia (hē'məfĭl`ēə,–fēl`yə), genetic disease in which the clotting ability of the blood is impaired and excessive bleeding results. , a disorder in which the blood fails to clot normally. The condition is manifested almost exclusively in males.
``The problem is there is more demand for Factor VIII factor VIII
A factor in the clotting of blood, a deficiency of which is associated with hemophilia A. Also called antihemophilic factor, antihemophilic globulin, antihemophilic globulin A, (Baxter's hemophilia product) than there is supply,'' Lovre said.
Baxter's hemophilia products are manufactured in Thousand Oaks, where the company recently received approval from the Food and Drug Administration to begin operating a new facility. The addition will cost the company around $50 million.
A few miles away from Baxter's new bioscience headquarters is Amgen's corporate headquarters. Calcagnini said he doesn't see Baxter boxing out
Boxing out is a technique used in basketball to obtain rebounds. A player boxes out another player by positioning himself between the other player and the basket; he or she then uses their buttocks to Amgen's No.1 slot in the biotechnology arena, although he did say they are direct competitors.
``Baxter has one of the leading franchises, and being out in Thousand Oaks, they may be able to tap into the local talent pool and that includes taking people away from Amgen,'' Calcagnini said.
Even so, Amgen isn't shaken by Baxter's move.
``With more companies in the area, it (will help) encourage more investment in the industry,'' said Amgen spokeswoman Rebecca Hamm.
Baxter rose 54 cents to 55.89 on Wednesday.
Baxter Healthcare Corp. BioScience headquarters