As trade talks resume, China drops antidumping probe of USA sorghum
British gov't mulls cladding ban ahead of Grenfell Tower fire anniversary
Outrage over racial slur printed on Starbucks cup
Emma tops the charts for baby names - again
Ocado Stock Skyrockets on Huge Grocery Delivery Deal With Kroger
Shire to Sell Oncology Business to Servier for $2.4 Billion
16 April 2018, 03:46 | Hattie Nash
Shire specialises in drugs for rare diseases
Shire announced it's selling its oncology business to French immuno-oncology company Servier for $2.4 billion.
This development, however, complicates a prospective takeover by Japan's Takeda.
The divestment of the cancer business may be a deterrent for Takeda, since oncology was one of the areas it had highlighted as driving the case for a Shire deal, along with gastrointestinal medicine and neuroscience. Takeda declined to comment further on Monday. Cancer isn't one of the Shire's major units, with $262 million in 2017 sales, or about 1.8 percent of the company's total. The process identified multiple potential strategic buyers across the U.S., Europe and Japan, Shire said. They might be returned to shareholders in the form of a share buyback, Shire says, when the Takeda offer period is over.
Manchester City crowned champions as United crash
I want to see how we react now next season. "I think winning in Stamford Bridge gave us the confidence that we can do that". City are 16 points clear of second placed United, who can only take a maximum of 15 points from their remaining matches.
"While the oncology business has delivered high growth and profitability, we have concluded that it is not core to Shire's longer-term strategy", said CEO Flemming Ornskov, the key narrator in Shire's makeover story, in a statement.
Shire itself also has a track record of acquisitions, but its biggest ever deal - the $32- billion purchase of Baxalta in 2016 - was widely criticized by shareholders.
Shire's oncology business includes in-market products Oncaspar (pegaspargase), a component of multi-agent treatment for acute lymphoblastic leukemia (ALL), and ex-US rights to Onivyde (irinotecan pegylated liposomal formulation), which is part of a treatment regimen for metastatic pancreatic cancer post gemcitabine-based therapy.
Zuckerberg flubs details of Facebook privacy commitments
Facebook founder Mark Zuckerberg testified for 10 hours over two days before the House and Senate last week, but U.S. The social network is also facing a probe by United Kingdom data protection regulators and the European Commission.
Its oncology business had sales of $262-million a year ago, putting the divestment on a respectable revenue multiple of 9.2 times.
"As an essential step in the evolution of the group, this acquisition allows us to establish a direct commercial presence in the United States, the world's leading pharmaceuticals market, and to strengthen our portfolio of marketed products in the territories where Servier is already present", Laureau said.
Campaign Donations Pouring In to Trump
More than 20 percent of Donald Trump's 2020 presidential campaign spending has gone to legal fees so far this year. About $840,000 in payments for "legal consulting" were made to eight firms and the Trump Corporation.
PayFair (PFR) dropped $-0.01404 on April 12-13
ETHLend can be traded on these cryptocurrency exchanges: Binance, IDEX, Kucoin, EtherDelta, HitBTC, AEX, Bibox and Gate.io. Bets are placed and rewards are claimed using Metamask plugin for Chrome/Firefox or the Ethereum based Mist browser.