Global News

Servier to Acquire Shire's Oncology Business for $2.4B

Servier to Acquire Shire's Oncology Business for $2.4B

Takeda clearly stated that strengthening its core therapeutic area of oncology (alongside gastrointestinal and neuroscience) was a key reason it wanted to gobble up Shire.

The deal is expected to close in the second or third quarter this year. The move comes as Japan's Takeda prepares to bid for the FTSE 100 group.

According to the company, its board of directors began scouting divestments for the oncology business in December 2017, identifying "multiple potential strategic buyers across the US, Europe and Japan" a month later.

The drugs industry has seen a surge in deal-making this year as large players look for promising assets to improve their pipelines, but a Takeda-Shire transaction would be by far the biggest yet.

"While the oncology business has delivered high growth and profitability, we have concluded that it is not core to Shire's longer-term strategy", said CEO Flemming Ornskov, the key narrator in Shire's makeover story, in a statement.




Ornskov added that the company would consider returning the proceeds to shareholders through a share-buyback "after the current offer period regarding Takeda's possible offer concludes".

Shire has always been seen as a likely takeover target and was almost bought by USA drugmaker AbbVie (LSE: 0QCV.L - news) in 2014, until US tax rule changes caused it to walk away. Shire said the deal covers the transfer of its oncology arm including in-market products Oncaspar, a component of multi-agent treatment for acute lymphoblastic leukaemia and ex-US rights to Onivyde, which is a component of multi-agent treatment for metastatic pancreatic cancer post gemcitabine-based therapy.

Servier also gets the experimental drug calaspargase pegol for leukaemia and an early-stage immuno-oncology pipeline.

Its oncology business had sales of $262 million past year, putting the divestment on a respectable revenue multiple of 9.2 times.

Servier believes that the acquisition will help the firm to establish direct commercial presence in the U.S., in addition to expanding its oncology pipeline and portfolio of in-market drugs.


  • Kingdom Hearts 3 trailer shows off 80's LCD games-inspired mini-games

    Kingdom Hearts 3 trailer shows off 80's LCD games-inspired mini-games

    Some fans may be disappointed that this trailer only shows off these minigames, but we do get a fleeting glimpse at Twilight Town. A new trailer for Kingdom Hearts 3 was recently revealed at a fan event that shows off a few of the upcoming title's mini-games.

    BHP Billiton (NYSE:BHP) PT Set at $50.00 by Cowen

    Analysts await Mastercard Incorporated (NYSE:MA) to report earnings on May, 1. (NASDAQ:AMZN) or 2,285 shares. Twenty-First Century Fox, Inc. (NASDAQ:EIGI) has declined 7.59% since April 14, 2017 and is downtrending.

    Colon throwing ideal game vs. Astros through 7 innings

    Colon finished the game with a line of 7.2 innings pitched, seven strikeouts, one hit, one walk and one earned run. A fan favorite all around the majors, he is on his ninth team in the last 11 seasons.
  • Woman accused of letting toddler smoke meth, marijuana

    Woman accused of letting toddler smoke meth, marijuana

    At the moment, the authorities have refused to disclose any details pertaining to Ecker's motive or what will happen to her child. The reports came back positive for both drugs in the young girl, with police noting that the readings showed "chronic" drug use.
    Kerala: New born baby found inside toilet duct

    Kerala: New born baby found inside toilet duct

    According to media reports, Dr Abdul Rehman was informed about the clog by his maid on Friday in his clinic's toilet. An investigation is now underway and police are trying to find the newborn's parents, who are believed to have fled.
    WhatsApp is changing its 'delete for all' feature again

    WhatsApp is changing its 'delete for all' feature again

    Facebook-owned WhatsApp has finally released the Android beta 2.18.109 update which will resolve the issue of a Day bug. WhatsApp turned around a fix for the glitch in a matter of days, with the new beta version now available to download.
  • The Walking Dead: Maggie justified turning to dark side

    The Walking Dead: Maggie justified turning to dark side

    No one's particularly sure just how much time has passed between the death of Glenn and the demise of the Savior threat. Saying he was wrong about Negan, she added, "We have to build this place up, make it work better than before".
    Comey says `morally unfit' Trump at risk of Russian blackmail

    Comey says `morally unfit' Trump at risk of Russian blackmail

    Comey also spoke about the Clinton investigation, revealing that his certainty of her victory may have played a role in the probe. ABC producers and editors worked for several days to highlight the best parts of the interview for their prime-time special.
    USA  troops not leaving Syria until goals accomplished: Haley

    USA troops not leaving Syria until goals accomplished: Haley

    The Pentagon has said the strikes successfully hit the three chemical weapons facilities which were targeted. But they have refrained from targeting Assad's government, apart from a volley of USA missiles a year ago .
  • New XZ2 Premium has Sony's brightest ever 4K HDR smartphone screen

    New XZ2 Premium has Sony's brightest ever 4K HDR smartphone screen

    Some of the added features include a Motion Eye dual camera setup with an ISO rating of 12800 for HD quality video recording. That, Sony promises, is the sort of sensitivity that until now would have required an interchangeable-lens camera.
    'Enough is enough': Boris Johnson defends Syria air strikes

    'Enough is enough': Boris Johnson defends Syria air strikes

    The team of experts are set to investigate the April 7 attack east of the capital Damascus, which Bashar al Assad's regime and its Russian ally deny ever took place.
    Trump Praises 'Perfectly Executed' Syria Strike: 'Mission Accomplished!'

    Trump Praises 'Perfectly Executed' Syria Strike: 'Mission Accomplished!'

    The UN Security Council has been paralysed in dealing with the seven-year Syrian conflict and the alleged use of chemical weapons. The answer is only "may be". "It is such a great Military term, it should be brought back", he wrote.