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Shire to sell oncology business to Servier for $2.4 billion

Reuters  |  LONDON 

(Reuters) - Shire, the London-listed company which specialises in rare diseases, said on Monday it was selling its oncology business to French 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)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, April 16 2018. 12:28 IST