Servier acquires Shire’s Oncology business for a total consideration of $2.4 billion, in cash, upon completion. The transaction covers the transfer of Shire’s Oncology business including in-market products ONCASPAR® (pegaspargase), a component of multi-agent treatment for acute lymphoblastic leukemia (ALL) and ex-U.S. rights to ONIVYDE® (irinotecan pegylated liposomal formulation), a component of multi-agent treatment for metastatic pancreatic cancer post gemcitabine based therapy. The portfolio also includes two early stage immuno-oncology pipeline collaborations. Servier’s products will be commercialized in the United States through a newly-created subsidiary, SERVIER Pharmaceuticals LLC. Closing is expected in the second or third quarter of 2018 after obtaining authorizations from the competent competition authorities.
“The acquisition of Shire’s oncology franchise enables Servier to meet its strategic ambitions to become a key player in oncology globally. It is a major step in the transformation of the Group, allowing us to establish a direct commercial presence in the US, as well as to strengthen our portfolio of marketed products in the ex-US territories where Servier is already present. Our goal is to bring these life-saving treatments to greater numbers of cancer patients around the world”, said Olivier Laureau, President of Servier Group. “We thoroughly look forward to welcoming Shire’s dedicated oncology teams who will join Servier after the closing.”
Flemming Ørnskov, M.D., M.P.H., Shire Chief Executive Officer, commented: “This transaction is a key milestone for Shire, demonstrating the clear value embedded in our portfolio. While the Oncology business has delivered high growth and profitability, we have concluded that it is not core to Shire’s longer-term strategy. We will continue to evaluate our portfolio for opportunities to unlock further value and sharpen our focus on rare disease leadership with selective disposals of non-strategic assets”.
Servier is already present in the United States through several agreements with private and public partners and the Servier BioInnovation office. Located in the heart of Cambridge’s global life sciences hub, this new facility, opened in February 2018, is dedicated to identifying new R&D opportunities and intensifying Business Development & Licensing (BD&L) activities in the United States.