Baxter Announces Biologics Capacity Expansion
Thursday, April 19, 2012
Posted by: Angela King
DEERFIELD, Ill.--(BUSINESS WIRE)--Baxter International Inc. (NYSE:BAX), a global leader in biologic medical therapies, today announced it will build a new state-of-the-art manufacturing facility in Georgia to support growth of its plasma-based treatments. These therapies include treatments for immune disorders, trauma and other critical conditions.
Baxter expects capital investments at the Covington, Ga., site to exceed $1 billion over the next five years and to result in the creation of more than 1,500 full-time positions in Georgia and more than 2,000 jobs in total across multiple U.S. locations.
''This investment demonstrates our long-term commitment to patients around the world who rely on our plasma-based therapies,'' said Robert L. Parkinson, Jr., Baxter’s chairman and chief executive officer.
Construction will begin this year at the new Covington site, which will include operations supporting plasma fractionation, purification, fill-finish and a testing lab. Commercial production is scheduled to begin in 2018, with the new plasma fractionation facility adding up to three million liters of new capacity annually when fully operational.
The Covington site will have the flexibility and necessary infrastructure to expand further to support additional global market needs.
''We would like to thank Governor Nathan Deal and the many other officials involved in the site selection process, and we look forward to becoming part of the Georgia community,'' said Ludwig Hantson, Ph.D., president of Baxter’s BioScience business.
In connection with this investment, the company also expects to create more than two hundred new positions in Illinois, including jobs associated with expanded filling and finishing capacity at its existing manufacturing facility in Round Lake, Ill. The new jobs at the Round Lake facility will support production of FLEXBUMIN, a preparation of plasma-based albumin treatment in a flexible container.
About Baxter’s BioScience Business
Baxter is a scientific leader and innovator in plasma-derived therapies, with a focus on providing solutions to unmet patient needs. Its products include GAMMAGARD LIQUID (marketed as KIOVIG outside the United States and Canada), an immunoglobulin therapy (IG) for people living with primary immunodeficiency (PI), albumin therapies used to treat burns and maintain adequate fluid volume in critically ill patients, as well as blood protein therapies for people suffering from alpha-1 antitrypsin deficiency. The company continues to investigate its treatments in additional areas of significant patient need, including multifocal motor neuropathy and Alzheimer’s disease. These products are produced from plasma that is collected from human donors.
Full prescribing information for GAMMAGARD LIQUID can be found at www.baxter.com/products/biopharmaceuticals /downloads/gamliquid_PI.pdf.
About Baxter International Inc.
Baxter International Inc., through its subsidiaries, develops, manufactures and markets products that save and sustain the lives of people with hemophilia, immune disorders, cancer, infectious diseases, kidney disease, trauma and other chronic and acute medical conditions. As a global, diversified healthcare company, Baxter applies a unique combination of expertise in medical devices, pharmaceuticals and biotechnology to create products that advance patient care worldwide.
This release includes forward-looking statements concerning the company's plans to build a manufacturing facility in Georgia, including expectations with respect to capital investments, job creation and capacity expansion in Georgia and Illinois. The statements are based on assumptions about many important factors, including the following, which could cause actual results to differ materially from those in the forward-looking statements: continued strength in the company's financial position, including cash flows; fluctuations in supply and demand and the pricing of plasma-based therapies; future actions of regulatory bodies and other governmental authorities; product quality or patient safety issues; and other risks identified in the company's most recent filing on Form 10-K and other SEC filings, all of which are available on the company's website. The company does not undertake to update its forward-looking statements.
Baxter International Inc. Media Contacts Brian Kyhos, (847) 948-4210 Deborah Spak, (847) 948-2349 or Investor Contacts Mary Kay Ladone, (847) 948-3371 Clare Trachtman, (847) 948-3085