Shire PLC cut its full-year guidance and reported a net loss in the three months to Sept. 30, both because of heavy spending on the integration of its $32 billion acquisition of Baxalta Inc.

Dublin-based Shire said it would post a diluted loss per American Depository Share of between 70 cents and $1.10 in 2016, having previously said it would post between zero earnings per ADS and a 40 cent loss. The company reported a net loss of $387 million for the three months to Sept. 30. Meanwhile, revenue more than doubled to $3.5 billion, from $1.7 billion a year earlier.

Analysts expected net profit of $903 million and revenue of $3.6 billion. Non-GAAP operating income,a measure that strips out certain one-time gains and losses, as well as tax and interest, increased 73% to $1.3 billion.

Write to Denise Roland at

(END) Dow Jones Newswires

November 01, 2016 09:05 ET (13:05 GMT)

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