Shire completes sale of oncology franchise to Servier 3rd September 2018
Shire has completed the sale of its oncology franchise to Servier in a deal valued at $2.4 billion.
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. The portfolio also includes Calaspargase Pegol (Cal-PEG), which is under US review for the treatment of ALL and early stage immuno-oncology pipeline collaborations, the firm noted.
David Lee, who was previously the head of Shire’s Global Genetic Diseases and Oncology franchises, will continue with Servier as chief executive of its new US commercial subsidiary, Servier Pharmaceuticals.
“The closing of this transaction demonstrates the value embedded in our portfolio and our continued focus on executing against our strategic priorities,” said Dr Flemming Ornskov, Shire’s chief executive. “I am confident that Servier will continue to bring these important therapies to patients worldwide.”