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Shire sells cancer drugs to Servier for $2.4 billion as Takeda circles

Reuters  |  LONDON 

By Ben HirschlerLONDON (Reuters) - Shire, the London-listed rare diseases specialist that is a potential takeover target for Japan's Takeda Pharmaceutical, is selling its oncology business to unlisted French drugmaker Servier for $2.4 billion.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.Shire said on Monday it would consider returning proceeds from the sale to shareholders through a buyback and that further ...

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First Published: Mon, April 16 2018. 18:16 IST
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