Bid target Shire sells cancer arm for $2.4 million

Thinkstock

Pharmaceutical giant Shire is to raise $2.4 million (£1.7 billion) from the sale of its cancer treatment unit to the French Servier.

The sale comes just weeks after Japan’s Takeda Pharmaceutical said it was considering the possibility of a public offer of acquisition for the Region.

Shire says that the sale of the oncology business began in December and is not related to the possibility of a public offer of acquisition.

The company said it also may sell other assets which the judges because it is not central to your business.

“While the oncology business has experienced high growth and profitability, we have come to the conclusion that it is not the core of the Region’s long-term strategy,” said Shire’s chief executive Flemming Ornskov.

“We will continue to evaluate our portfolio for opportunities to unlock more value and focus our attention on rare diseases of leadership with selective divestitures of non-strategic assets”, he added.

Shire specializes in the development of treatments for rare diseases. The company was founded in the united kingdom and still has a large base in Basingstoke, but moved its corporate headquarters to Dublin in 2008.

Takeda confirms the offer of interest in the Region

Under uk rules governing the acquisitions, Takeda has until April 25 to launch a bid for Shire.

It has been reported that Takeda chief is the fulfillment of some of the Region’s largest shareholders this week to discuss a possible public offering for the acquisition.

Investors will be very interested in knowing how Takeda intends to finance the acquisition of the Region that has a higher market value.Non-profit

France’s Servier is controlled by a non-profit foundation and invests all its profits in the development of drugs.

It also allocates a quarter of its sales on research and development.

Your group’s president, Olivier Laureau, said that the agreement will help his ambition of becoming a leading organization in cancer treatments and also gives you access to the market of the united states.