ADRs End Lower; Shire Edges Down
January 25 2016 - 6:18PM
Dow Jones News
International stocks trading in New York closed lower on
Monday.
Shire PLC (SHPG, SHP.LN) was among the companies with ADRs that
traded actively.
The BNY Mellon index of American depositary receipts fell 1.7%
to 115.94. The European index decreased 1.7% to 116.56, the Asian
index dropped 1.6% to 124.32, the Latin American index fell 2.4% to
127.02 and the emerging markets index declined 1.2% to 194.85.
Shire's acquisition of Baxalta means revenue won't fall even
after best-selling hyperactivity medicine Vyvanse loses
exclusivity, according to analysts at Bernstein. The analysts said
the growth of Baxalta's immunology business, combined with new
drugs from Shire's own pipeline mean revenue will increase 1% every
year between 2017 and 2025. In the event that new entrants
significantly affect Baxalta's hemophilia business, revenue would
decrease 1% annually in that period, the analysts said. Shire's
ADRs declined by $1.46 to $180.81.
ArcelorMittal (MT, MT.FR), the world's largest steelmaker, has
announced plans to idle its steel plant in Sestao, Spain for an
indefinite period of time due to tumbling steel prices caused by a
sudden influx of cheap steel imports from China and high
electricity costs. ADRs fell three cents to $3.54.
Write to Tess Stynes at tess.stynes@wsj.com
(END) Dow Jones Newswires
January 25, 2016 18:03 ET (23:03 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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