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Baxter BioScience to acquire cancer drugs from Sigma-Tau Finanziaria for $900m

Baxter BioScience has signed an agreement to buy two drugs from Italian drugmaker Sigma-Tau Finanziaria for $900m to treat acute lymphoblastic leukemia (ALL), a rare form of blood cancer.

Oncaspar (pegaspargase), an investigational biologic calaspargase pegol, is one of the acquired drugs and transaction related to this drug is expected to be completed in the third quarter of this year.

As part of the acquisition, the company is also acquiring a related new chemical entity calaspargase pegol, currently being developed for the treatment of ALL with an increased shelf life that is expected to reduce dosing frequency.

Baxter BioScience president Ludwig Hantson said: "The Baxter BioScience legacy of delivering solutions for orphan diseases and small patient populations and our global presence positions us well to accelerate the growth of the Oncaspar portfolio globally.

"With Oncaspar, Baxalta will bring an established standard of care therapy to more patients worldwide through the pursuit of additional indications and regulatory approvals across the globe."

Further, the company plans to investigate Oncaspar for potential new indications, including in additional ALL patient populations with significant unmet needs, as well as for acute myeloid leukemia (AML).

By mid-year, the company intends to establish the BioScience business as a separate, publicly traded, innovation-oriented biopharmaceutical firm, Baxalta.

Currently, Oncaspar is marketed in the US, Germany, Poland and certain other countries and has around $100m in annual sales.

In addition, the company intends to evaluate Oncaspar for potential new indications, including in additional ALL patient populations with significant unmet needs, as well as for acute myeloid leukemia (AML).