Servier finalizes acquisition of Shire’s oncology branch

03-Sep-2018 - Germany

Servier announced that it has finalized the previously announced acquisition of Shire’s oncology branch after obtaining regulatory clearance. The 2.4 billion dollar transaction will enable Servier to establish a direct commercial presence in the United States and strengthen its oncology drug portfolio in the countries in which the Group is already present.

Servier acquires Shire’s oncology business including two marketed products, ONCASPAR^® and ONIVYDE^®, in addition to two collaborations currently being developed in the immuno-oncology field.

“This acquisition is a major step in achieving the Servier group’s ambition”, declared Olivier Laureau, President of Servier. “It marks the launch of Servier’s commercial activities in the world’s largest pharmaceutical market – the United States – and significantly strengthens its portfolio of oncology drugs. It is part of Servier’s twofold strategy: to continue to treat an increasing number of patients with innovative medications across the world and become a world reference in oncology.”

In the United States, Servier products will be marketed by the Group’s new subsidiary, Servier Pharmaceuticals LLC (Boston), which is made up of 80 people, including those employees transitioning from Shire to Servier. Servier Pharmaceuticals will be led by David K. Lee who previously led Shire’s Global Genetic Diseases and Oncology franchises. The subsidiary will continue to market ONCASPAR^® in the United States. Servier Pharmaceuticals’ twofold aim is to develop a strong sales presence in the United States, based on Servier’s existing portfolio, and to enrich the portfolio with close-to-market or marketed innovative products, in accordance with the Group’s strategy.

Outside the United States, approximately 75 employees from Shire are expected to integrate into Servier’s organizational structure. They will continue to market ONCASPAR^® and ONIVYDE^® according to local legislation.

https://www.bionity.com/en/news/1157178/servier-finalizes-acquisition-of-shires-oncology-branch.html