Shire to sell oncology business to Servier for $2.4 billion

LONDON (Reuters) - Shire, the London-listed pharmaceutical company which specialises in rare diseases, said on Monday it was selling its oncology business to French drug maker Servier for $2.4 billion.

Shire, which is a possible bid target for Japan's largest drugmaker Takeda Pharmaceutical, said it would consider returning the proceeds of the sale to shareholders through a buyback.

(Reporting by Sarah Young; editing by Kate Holton)