Shire offloads oncology unit to Servier for $2.4bn

Birmingham Women's Hospital Offers Technological Advances In Its Care

Shire is to sell its oncology business to France's Servier for $2.4 billion, in a move seen as a deterrent to a takeover by Takeda.

Shire's oncology business includes in-market products Oncaspar (pegaspargase), a component of multi-agent treatment for acute lymphoblastic leukemia (ALL), and ex-US rights to Onivyde (irinotecan pegylated liposomal formulation), which is part of a treatment regimen for metastatic pancreatic cancer post gemcitabine-based therapy.

A deal for Shire could be valued at as much as $50 billion, which would make it one of the biggest takeovers by a Japanese firm of an overseas company and far exceed Takeda's own market value of about $37 billion.

He added that the money raised from the transaction "increases optionality" for the company and may be deployed to buy back shares "after the current offer period regarding Takeda's possible offer for Shire concludes" on 25 April. The process identified multiple potential strategic buyers across the U.S., Europe and Japan, Shire said.

In addition, Takeda Pharmaceutical Co Ltd is still now in the process of considering approaching Shire with an offer to acquire the group, after Nikkei reported earlier in April that Takeda could value Shire at USD55 billion. Takeda declined to comment further on Monday.


Two sources with direct knowledge of the matter said last week that Takeda had sounded out its major creditors for loans to fund a potential Shire bid.

Shire gained as much as 3.5 percent to 3,732 pence in early trading in London.

The portfolio also includes Calaspargase Pegol (Cal-PEG), which is under United States review for the treatment of ALL and early stage immuno-oncology pipeline collaborations, the firm noted. It said last month that any deal would strengthen its core therapeutic areas of developing medicines for cancer, gastroenterology and neuroscience.

If a deal were to be struck, it would see the hunter become the hunted after Shire itself went on the acquisition trail only two years ago when it bought Baxalta for 32 billion USA dollars (£22.6 billion).

Related News:

  • On May, 1 Analysts See $0.17 EPS for Encana Corporation (ECA)

    The purchase was disclosed in a document filed with the SEC, which is available through this link . (UNH)'s stock declined 0.93%. On Thursday, November 9 the stock of Encana Corporation (NYSE:ECA) has "Buy" rating given by GMP Securities.
    A week of sparring for Musk and Tesla

    A week of sparring for Musk and Tesla

    Tesla reported a record loss of $675.4 million - $4.01 per share - on a revenue of $3.29 billion in the fourth quarter of 2017. Tesla reported in April that it fell short of its target to produce 2,500 Model 3 cars a week by the end of the first quarter.
    UN body dismisses Russsia's attempt to condemn western allies

    UN body dismisses Russsia's attempt to condemn western allies "aggression" in Syria

    A fact-finding mission from the Organization for the Prohibition of Chemical Weapons is expected to arrive in Douma on Saturday. But he also appeared anxious to avoid a wider conflict, saying France would "in no way allow an escalation".
  • Comey: 'Possible' that Russians have leverage over Trump

    Comey: 'Possible' that Russians have leverage over Trump

    Leaked excerpts have detailed Comey's mistrust of Trump, whom he describes as "ego driven" and "untethered to the truth". Initially, however, the chyron read, "Comey resigns". "What she did was really sloppy", Comey said.

    Target Corp (TGT) Shareholder Srb Corp Has Lowered Its Holding

    After $1.37 actual EPS reported by Target Corporation for the previous quarter, Wall Street now forecasts 0.73 % EPS growth. ValuEngine raised shares of Target from a "hold" rating to a "buy" rating in a research note on Friday, December 1st.
    4 elephants hit by speeding train in Odisha, die on spot

    4 elephants hit by speeding train in Odisha, die on spot

    Train movements along Howrah-Mumbai down line were affected as carcasses of elephant were lying on the track for four hours. A herd of elephants was crossing the rail line in the wee hours of the morning when the incident took place.
  • California Rescuers Find Items Belonging to Missing Family

    California Rescuers Find Items Belonging to Missing Family

    Devonte drew national attention after he was photographed in tears while hugging a white police officer during a 2014 protest. A specialized team of accident investigators is trying to figure that out with help from the FBI, Carpenter said.
    Winslow Evans & Crocker INC Holds Stake in Costco Whsl Corp New (COST)

    Winslow Evans & Crocker INC Holds Stake in Costco Whsl Corp New (COST)

    It dropped, as 42 investors sold NOW shares while 132 reduced holdings. 177 funds opened positions while 601 raised stakes. Ohio-based Gateway Invest Advisers Ltd Liability Co has invested 0.04% in Costco Wholesale Corporation (NASDAQ:COST).

    Citigroup Inc. Upgrades Esperion Therapeutics Inc (ESPR) to Purchase

    On Wednesday, February 21 the rating was maintained by Needham with "Buy". (NASDAQ:FB) on Thursday, November 5 with "Buy" rating. Rothschild Asset Management Incorporated reported 20,871 shares or 0.01% of all its holdings. (NASDAQ: ESPR ).
  • Brokerages Set Taiwan Semiconductor Mfg. Co. Ltd. (TSM) Target Price at $34.50

    Since November 27, 2017 according to StockzIntelligence Inc Taiwan Semiconductor Manufacturing Company Ltd. has 5 analyst reports. Ltd. (NYSE:TSM) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission.
    Area teen shot at while asking for directions

    Area teen shot at while asking for directions

    He added: "I feel bad for the young man; I feel awful for the mom and the anxiety that they had to go through". Zeigler was charged with assault with intent to murder, possession of a firearm while committing a felony.
    Andhra Pradesh observes statewide bandh over special status — AP Bandh

    Andhra Pradesh observes statewide bandh over special status — AP Bandh

    However, Chief Minister Chandrababu Naidu opposes the call for the band, saying that it would halt the state's development. A Motorcycle has been set ablaze near RTC bus stand in Tirupati during the statewide bandh in Andhra Pradesh .


Most liked

Kingdom Hearts 3 trailer shows Classic Kingdom mini-games
You can check out the full trailer below for Kingdom Hearts 3 which will be heading to PlayStation 4 and Xbox One later this year.

Sony India extends its Headphone and Speaker line-up for 2018
The headphones also support Sony's Extra Bass sound that offers deeper bass in coordination with noise cancelling technology. The headphones - WF-SP700N and WI-SP600N will become smarter with Google Assistant and will be optimized with an update.

Epic is considering more than 100 players for Fortnite
However, the company plans to make it up to the disappointed Fortnite players by distributing several freebies. Players who can't wait to rock this outfit can purchase it for a hefty 2,000 V-Bucks, or $20 U.S. dollars.

Major Fire Breaks Out at Slums in Delhi; One Injured
No one was killed or injured in the incident, except one resident of the camp who received minor burn injuries oh his hand. The NGOs and local residents helped the Rohingya refugees by providing clothes, foods and other needed items.

Rangers captain James Tavernier hits out at 'embarrassing' defeat to Celtic
Tavernier took the team's dismal display personally when asked if he could identify why the necessary effort had not been there. He had "no idea" if the occasion got to the Rangers players. "Not at all", he said of that contention.

Kinder Morgan (KMI) Set to Announce Quarterly Earnings on Tuesday
With 11,300 avg volume, 6 days are for Loop Industries Inc (NASDAQ:LOOP)'s short sellers to cover LOOP's short positions. While this information can be of use, most investors will be more concerned with where the shares are headed from here.

Man City crowned Premier League champions
One of the things we have to improve is our consistency". 'Especially if you've been a Blue for more than forty years. Under that kind of pressure, De Bruyne still went and offered one of the passes of the season.

'The Walking Dead' recap: 'All-Out War' ends with Rick-Negan showdown
This is your last warning: if you do NOT want to be spoiled before watching The Walking Dead's season eight finale, stop reading. At the Hilltop, Alden tells Maggie that most of the prisoners are heading back to the Sanctuary to make something out of it.

A fiery send-off for the mother of the nation Winnie Madikizela-Mandela
Public submissions have now also been called for. "Life is so unfair‚" Malema, clad in all black, said. Malema shook the stadium with his fiery speech that became a trending topic on social media.

The XPERIA XZ2 Premium has dual cameras with ISO 51200 sensitivity
We haven't seen a follow-up to this model but we already saw the Sony Xperia XZ2 and XZ2 Compact and got our hands-on feature. There's a world of difference in the cameras, but let's start with the shared features: both have a Motion Eye main camera.

Not Tiger Shroff, Disha Patani Is Dating This Mystery Man?
Baaghi 2 has been helmed by Ahmed Khan and is backed by Sajid Nadiadwala under his banner Nadiadwala Grandson Entertainment . Baaghi 2 has also enterd into the list of Top-20 Bollywood grossers ever.

On May, 1 Analysts See $1.09 EPS for Genworth MI Canada Inc
The stock of Annaly Capital Management, Inc. (NYSE:GNW) earned "Hold" rating by Keefe Bruyette & Woods on Monday, February 26. Ancora Ltd Limited Liability Company holds 206,580 shares or 0.03% of its portfolio. (NYSE:GNW) for 1.33 million shs.

Rafael Nadal Jokes Roger Federer Is Avoiding Him On Clay
The Spaniard has a bye for the first round and will open his tour clay court campaign against either Slovenia's Aljaz Bedene or a qualifier.

HMD Global to Release Nokia X(2018) on April 27, 2018
As per a report by Chinese blog ITHome , HMD's upcoming smartphone will be launched on April 27 in China. The company has begun putting out ads in China promoting a new handset which is coming out on April 27 .

Fight at a Sikh Temple: Injuries During Fight Over Elections
The fight was Sunday afternoon at the temple on Graham Rd., and apparently took place during elections. Investigators said they are still probing the incident and no arrests have been made.