Economy

Shire Sells Oncology Business To Servier For USD2.4 Billion (ALLISS)

Shire Sells Oncology Business To Servier For USD2.4 Billion (ALLISS)

Shire's shares have lost a little over a fifth of their value over the past year, as compared with about a 1.1-percent drop in the Footsie.

Shire PLC has agreed to sell its oncology business to French drugmaker Servier for $2.4 billion, in a deal that could discourage Japan's Takeda Pharmaceutical Co. from launching a takeover of the London-listed company.

Takeda had identified oncology, along with gastroenterology and neuroscience, as one of the key therapeutic areas which would benefit from the acquisition. Takeda declined to comment further on Monday. One analyst said that the unit was considered to be non-core for Shire.

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", Chief Executive Officer Flemming Ornskov said in the statement. They might be returned to shareholders in the form of a share buyback, Shire says, when the Takeda offer period is over.

More news: US, UK, France launch joint strikes on Syria

Shire has always been seen as a likely takeover target and was almost bought by USA drugmaker AbbVie in 2014, until US tax rule changes caused it to walk away. Shire's board began considering a sale of the oncology business in December.

The Oncology business consists of in-market products ONCASPAR, or pegaspargase, a component of multi-agent treatment for acute lymphoblastic leukaemia and ex-US rights to ONIVYDE, a component for the treatment of metastatic pancreatic cancer.

For privately held Servier, acquiring Shire's oncology operation allows it to establish a direct commercial presence in the United States and boosts its presence in cancer.

The portfolio also includes Calaspargase Pegol (Cal-PEG), which is under U.S. review for the treatment of ALL and early stage immuno-oncology pipeline collaborations, the firm noted.


  • Sony India extends its Headphone and Speaker line-up for 2018

    Sony India extends its Headphone and Speaker line-up for 2018

    The range includes SRS-XB21 (Rs 7,990), SRS-XB31 (Rs 9,990) and SRS-XB41 (Rs 13,990) - all with Bluetooth and NFC connectivity. In addition to WF-SP700N, Sony is also introducing two standard wireless in-ear models in the form of WI-SP600N and WI-SP500.
    Rising Star Season 2

    Rising Star Season 2

    Rising Star 2 was one of the most loved shows on the small screen, all thanks to the incredible and talented contestants. Rohanpreet impressed everyone with his performance on Khuda Jane Kyu and scored 78 per cent votes in the second round.
    SUV that fell into river belonged to missing family, officials determine

    SUV that fell into river belonged to missing family, officials determine

    The items had turned up over the course of searches of the South Fork of the Eel River over the past two days, the statement said. Manorama News reported on Sunday that the deceased was Soumya, a native of Padamugal in Kakkanad, Kochi.
  • Rick Slits [SPOILER]'s Throat In Epic 'The Walking Dead' Season 8 Finale

    Rick Slits [SPOILER]'s Throat In Epic 'The Walking Dead' Season 8 Finale

    He chose to stick around to help her bring some of Georgie's plans to reality, something she looked genuinely pleased to hear. Maggie and co. are the ticking bomb under the table and, even worse than all of that, Rick may try to make another speech.
    Ahead Of Comey's Media Blitz, Trump Lashes Out Again

    Ahead Of Comey's Media Blitz, Trump Lashes Out Again

    President Donald Trump is again calling former FBI Director James Comey a "slimeball" ahead of the publication of his new book. Leaked excerpts have detailed Comey's mistrust of Trump, whom he describes as "ego driven" and "untethered to the truth".

    Cetera Advisors LLC Cuts Holdings in Comcast Co. (CMCSA)

    Finally, Arrowstreet Capital Limited Partnership increased its stake in shares of Comcast by 42.6% in the fourth quarter. ValuEngine downgraded shares of Comcast from a "hold" rating to a "sell" rating in a research note on Monday, April 2nd.
  • IRS Awards Tax Filing Extension for Santa Barbara County

    IRS Awards Tax Filing Extension for Santa Barbara County

    You can go to your local tax preparer, submit it through an online tax preparer, or submit it through the IRS website . While many Americans enjoy getting a tax refund, others would rather have access to that money throughout the year.
    New Star War Han Solo Spot

    New Star War Han Solo Spot

    Of course, a story about Han is also a story about his closest friend and copilot Chewbacca . There a number of high flying action scenes with the Falcon evading Imperial tie fighters.
    Woolworths meltdown closes stores across Australia

    Woolworths meltdown closes stores across Australia

    Shoppers began reporting on social media about 4.15pm that they'd been told an IT issue was affecting cash registers. A national technical outage brought sales to a standstill at the busy Mackay city store this afternoon.
  • All accused including Swami Aseemanand acquitted in 2007 Mecca Masjid blast

    All accused including Swami Aseemanand acquitted in 2007 Mecca Masjid blast

    Soon after the blast on May 18, 2007 , five more people were killed in subsequent police firing as cops tried to control a mob. The court delivered the verdict in Hyderabad's most sensational Mecca Masjid bomb blast that happened 11 years ago.
    Shenmue remasters are coming this year

    Shenmue remasters are coming this year

    Its sequel followed in 2001, although it was only released on Dreamcast in Europe and Japan; the game was later ported to the original Xbox in 2002.
    Sony Launches Xperia XZ2 Premium with 16:9 4K Display in 2018

    Sony Launches Xperia XZ2 Premium with 16:9 4K Display in 2018

    Sony has also fitted the Xperia XZ2 Premium with a better front-facing camera, 13MP on the Premium, compared to 5MP on the XZ2. Stay tuned on Phone Radar for more details! However, it is an upgrade in every other area, be it the display or the camera.