Baxter to Form New Global Innovation and R&D Center Near Boston for its Biopharmaceuticals Business

DEERFIELD, Ill., September 29, 2014 – Baxter International Inc. (NYSE:BAX) today announced plans to form a new global innovation and research and development (R&D) center in Cambridge, Mass., for Baxter’s biopharmaceuticals business, which is expected to become a separate, independent global company known as Baxalta Incorporated in mid-2015.