Baxter Boosts Oncology Pipeline With $900M Cross-Border Deal

NEW YORK (The Deal) -- Baxter International (BAX) is preparing to break itself up in the coming months but that hasn't stopped it from inking a $900 million deal to build up its pipeline of products in the white hot sector of oncology.

Deerfield, Ill.-based Baxter said Tuesday it would spend $900 million in stock to acquire the Oncaspar Leukemia portfolio of Italy's Sigma Tau Finanziaria SpA for $900 million. The deal includes Oncaspar, a treatment for Acute Lymphoblastic Leukemia (ALL), a cancer of the white blood cells, as well as pipeline candidate Calaspargase Pegol -- a new biologic in treatment of ALL.

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