Market Report Perrigo Weighs on Higher Market

Shares of local generic drugmaker fall 4.4% after $8.6 billion buy of Irish biotech firm Elan

Perrigo plunged in heavy trading on the Tel Aviv Stock Exchange after its $8.6 billion purchase of the Irish drug maker Elan on Monday, weighing down the benchmark TA-25 index in a generally up market. Lower share prices in the Far East and on Wall Street buttressed the trend.