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Shire sells cancer drugs to Servier for $2.4 billion

Staff Writer |
Shire is selling its oncology business to unlisted French drugmaker Servier for $2.4 billion.

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Shire said on Monday it would consider returning proceeds from the sale to shareholders through a buyback and that further selective disposals of non-strategic assets were possible.

Shire is a potential takeover target for Japan’s Takeda Pharmaceutical. Under UK takeover rules, Takeda has until April 25 to announce whether or not it will bid for Shire, which has a market value of around $47 billion.

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