Shire offloads oncology unit to Servier for $2.4bn
Shire has agreed to sell its cancer drugs business to French drugmaker Servier for $2.4bn, even as it prepared for a possible takeover offer from Takeda.
The Dublin-based company said the deal covers its already-marketed drug Oncaspar (pergaspargase) for acute lymphoblastic leukaemia (ALL), as well as ex-US rights to pancreatic cancer therapy Onivyde (irinotecan pegylated liposomal formulation) and long-acting Oncaspar follow-up calaspargase pegol - under FDA review for ALL.
The agreement comes as Takeda’s chief executive Christophe Weber is reported to be in the US canvassing investor support for a potential bid for Shire, and will no doubt complicate attempts to put a fair value on the business with just a few days to go before the Japanese company must propose an offer or press pause for six months as required under EU takeover laws.
Read more: http://www.pmlive.com/pharma_news/shire_offloads_oncology_unit_to_servier_for_$2.4bn_1231984
The Dublin-based company said the deal covers its already-marketed drug Oncaspar (pergaspargase) for acute lymphoblastic leukaemia (ALL), as well as ex-US rights to pancreatic cancer therapy Onivyde (irinotecan pegylated liposomal formulation) and long-acting Oncaspar follow-up calaspargase pegol - under FDA review for ALL.
The agreement comes as Takeda’s chief executive Christophe Weber is reported to be in the US canvassing investor support for a potential bid for Shire, and will no doubt complicate attempts to put a fair value on the business with just a few days to go before the Japanese company must propose an offer or press pause for six months as required under EU takeover laws.
Read more: http://www.pmlive.com/pharma_news/shire_offloads_oncology_unit_to_servier_for_$2.4bn_1231984