Baxalta picks Bannockburn for HQ

Baxter International announced Monday that Baxalta Inc., the biopharmaceutical company expected to be split off from Baxter this summer, will be headquartered in Bannockburn.

Deerfield-based Baxter said Baxalta has leased about 260,000 square feet at 1200 Lakeside Drive.

“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, president of Baxter BioScience, who will be chief executive officer of Baxalta.

Baxalta will have about $6 billion in revenue.

The headquarters city for Baxter and Baxalta has been the subject of speculation since Baxter announced plans in March 2014 to split into two companies. Baxter had always pledged the companies would be headquartered in northern Illinois but several companies were involved in or contemplating corporate conversions at that time.

It looked in August like the Chicago area was going to lose hundreds of jobs and the prestige of hosting one of the companies when reports surfaced that Baxter was scouting property near Boston. The next month Baxalta announced it would create a research-and-development center there.