Baxalta makes its debut

Baxter International Inc. (NYSE:BAX) spun out its innovative biopharmaceuticals unit, Baxalta Inc. (NYSE:BXLT), as a separate public company. In its first day of trading on Wednesday, Baxalta shares lost $0.44 to $31.50.

Baxalta has 14 marketed drugs in core areas of hematology, immunology and oncology. Its worldwide net sales were $6 billion in 2014. ...