Shire is engaged in the development of novel therapies across various rare disease areas, including hematology, immunology, genetic diseases, neuroscience, as well as ophthalmics and oncology.
The deal suggests there is value locked up within Shire's portfolio - despite a dismal share price performance in the past two years - as its management braces for a possible $50-billion bid battle with Japan's biggest drugmaker.
The oncology unit sale is expected to close in the second or third quarter of the year and Shire boss Flemming Ornskov said the firm would "consider returning the proceeds of the sale to shareholders through a shareholder-approved share buyback after the current offer period regarding Takeda's possible offer for Shire concludes". The deal comes after Takeda expressed interest for a complete takeover, wooed analysts for support and reportedly sought loans to fund the effort - and just days ahead of the April 25 deadline for the Japanese drugmaker to make a bid.
Takeda told numerous news outlets it had no comment on the Servier-Shire deal.
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Buying Shire would be transformational for Takeda but would be a huge financial stretch, since the company is worth around $10 billion more than the Japanese group. Launched in 19 countries, Lonsurf generated €62 million ($76.8 million) in revenue during 2016-2017, according to a Servier announcement that did not furnish revenues for Pixuvri. While the oncology business has delivered high growth and profitability, we have concluded that it is not core to Shire's longer-term strategy.
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. The Irish-headquartered pharma, which has increasingly turned its focus to rare disease in recent years, had rights to chemotherapy agent Oncaspar and pancreatic cancer treatment Onivyde, both of which are on the market.
Servier would shell out 9.2 times 2017 revenues for Shire's oncology business.
The portfolio also includes Calaspargase Pegol, which is under FDA review for the treatment of acute lymphoblastic leukaemia and early stage immuno-oncology pipeline collaborations.
This president does not reflect the values of this country", he said of Donald Trump . "The most important being truth", he said. Comey said he does not know "what's behind" Trump's reluctance to criticise Russian President Vladimir Putin in public.
Xperia XZ2 Premium supports USB Type-C audio and comes with Stereo speaker with S-Force Front Surround, DSEE HX and LDAC. While it sports the same design as the Xperia XZ2 , the smartphone brings upgrades in the display , camera and battery .
For his part, the leader of the UK Independence Party (UKIP), Gerard Batten, opposed the British military action in Syria. In her comments, May also alluded to a nerve agent attack in Britain last month on a former Russian spy and his daughter.
Four inmates were killed by a pair of prisoners in the state's Kirkland Correctional Institution a year ago . Logan said he just finished identifying all the dead Monday and is working to notify relatives.
Conte swiftly responded by hauling off the disappointing Alvaro Morata and Davide Zappacosta for Pedro Rodriguez and Giroud. The two clubs will meet again eight days from now at Wembley Stadium in a FA Cup semifinal.
India had faced deficient rains during monsoon season in 2015 and 2014, making both these years drought years. IMD will update its forecast in early June with numbers on month and region-wise distribution of the monsoon.
An inmate was killed during a fight in July 2017 , another was stabbed to death in November , and a third was killed in February . The department added that the State Law Enforcement Division (SLED) were assisting prison officials in its investigation.
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Lennie James Thinks Morgan Will Return To 'The Walking Dead'
And, if so, just how big of one will we get? Read on only if you have already watched the season 8 finale of The Walking Dead . He chose to stick around to help her bring some of Georgie's plans to reality, something she looked genuinely pleased to hear.
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Colon loses flawless game in eighth inning
Robinson Chirinos homered and drove in three runs on Sunday, powering the Rangers to a 3-1 victory over the Astros in 10 innings. Colon took a flawless game into the eighth inning before doling out a walk and then allowing a double to Josh Reddick .
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More so, it can encourage productivity by being able to lessen boredom since you will be surrounded by people you can talk to. It Fits the Bill According to statistics, self-employment is on the rise, increasing by as much as 40% in the U.S . by 2020.
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