Baxalta completes purchase of Oncaspar portfolio

Baxalta has completed its purchase of the Oncaspar cancer therapy portfolio from Sigma-Tau Finanziaria.

The $900 million (580.84 million pounds) deal includes the Oncaspar product itself – a biologic treatment for patients with acute lymphoblastic leukaemia – as well as the investigational biologic calaspargase pegol, and various established global clinical and commercial resources.

Currently, the drug is primarily marketed in the US, Germany, Poland and certain other countries, but is under European regulatory review. Present sales of Oncaspar are estimated at $100 million, with significant growth potential starting in 2016.

Baxalta plans to expand the value of the portfolio by developing new formulations and indications, as well as continuing research on calaspargase pegol.

Ludwig Hantson, chief executive officer and president at Baxalta, said: "Our focus at Baxalta is building on our rich expertise and capabilities in orphan diseases and complex therapeutics to address significant unmet needs for patients with a variety of challenging diseases, including leukaemia."

Baxalta is the former biopharmaceuticals division of Baxter. It began operating as a standalone independent company at the start of this month.