Servier Group Completes Acquisition of Shire's Oncology Division

Servier, an independent international pharmaceutical company, has announced the acquisition of Shire's oncology division following regulatory approval, as previously announced. The USD 2.4 billion transaction will enable Servier to establish a direct commercial presence in the United States and strengthen its oncology drug portfolio in countries where the group already operates. As part of this acquisition, Servier has taken over marketing activities and staff for the oncology products ONCASPAR® and ONIVYDE®, as well as two ongoing collaboration agreements in the immuno-oncology field. Servier Chairman Olivier Laureau stated, "This acquisition is an important step in Servier group's achievement of its objectives." He continued: "This move demonstrates that Servier has launched commercial operations in the United States, the world's largest pharmaceutical market, and has significantly strengthened its drug portfolio in oncology. At the same time, this acquisition addresses two strategic objectives for Servier: to treat more patients worldwide with innovative medicines and to become a global reference in oncology." Servier Pharmaceuticals LLC (Boston), the group's new company, will market Servier products in the United States with an initial team of 80 people. This company will also continue marketing the product ONCASPAR®. Servier Pharmaceuticals LLC will be led by David K. Lee, who previously headed Shire's Global Genetic Diseases and Oncology divisions. The company's objective will be to develop a strong commercial presence in the United States in line with Servier Group's strategy, using Servier's current portfolio, and on the other hand, to enrich the portfolio with innovative products that are being prepared for marketing or are already on the market. Outside the United States, approximately 75 employees have been integrated into Servier's organization. According to local regulations, this team will continue to market ONCASPAR® and ONIVYDE®. With this acquisition, Servier Group is advancing toward its goal of becoming a global biopharmaceutical company.