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Shire to sell oncology business

The $2.4bn proceeds from the sale will help rescue the group’s stretched balance sheet
Shire to sell oncology business

British pharma giant Shire (SHP) is set to sell its oncology business to French peer Servier for $2.4bn (£1.68bn). For those expecting management to put the struggling neurology business up for sale, this development comes as something of a surprise. It has also potentially thrown a spanner in the works of Takeda’s budding takeover: oncology is one of the key divisions the Japanese group is interested in.

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