Servier Group Completes Acquisition of Shire's Oncology Division

International independent pharmaceutical company Servier announced that it has completed the acquisition of Shire's oncology division, following previous announcements and legal approvals. The USD 2.4 billion transaction will enable Servier to establish a direct commercial presence in the United States and strengthen the oncology pharmaceutical portfolio in countries where the group already operates. Within the scope of this acquisition, Servier took over marketing operations and teams for ONCASPAR® and ONIVYDE® products in the oncology field, as well as two collaboration agreements in the immuno-oncology sector. Servier President Olivier Laureau stated, "This acquisition is an important step for the Servier group to achieve its objectives," and continued: "This move demonstrates that Servier has launched commercial activities in the United States, the world's largest pharmaceutical market, and has significantly strengthened its drug portfolio in oncology. This acquisition also serves two objectives in Servier's strategy: 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 begin with an 80-person team and will market Servier products in the United States. This company will also continue marketing the ONCASPAR® product. 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 the Servier Group's strategy, and on the other hand, to enrich the portfolio with innovative products being marketed or to be marketed. Outside the United States, approximately 75 employees have been integrated into Servier's organization. According to local regulations, this team will continue marketing ONCASPAR® and ONIVYDE®. With this acquisition, the Servier Group is moving toward its goal of becoming a global biopharmaceutical company.