Shire sells oncology business for $2.4 billion
Shire (LSE: SHP) saw its share gain as much as 3,55% to 73,732 pence shortly after markets opened this morning, after the Ireland-headquartered rare diseases biotech announced that has entered into a cash sale for its oncology business.
Under the terms of the agreement, independent French pharma firm Servier has agreed to acquire Shire’s oncology business for a total consideration of $2.4 billion, in cash, upon completion. The transaction has been approved by the boards of directors and is expected to close in the second or third quarter of 2018.
Deal could impact Takeda acquisition plans
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