Davis Polk is advising Shire plc on the $2.4 billion sale of its Oncology business to Servier S.A.S. The transaction has been approved by the board of directors and is expected to close in the second or third quarter of 2018.

Shire strives to develop best-in-class therapies across a core of rare disease areas, including hematology, immunology, genetic diseases, neuroscience and internal medicine with growing therapeutic areas in ophthalmics and oncology. Shire’s Oncology business includes in-market products ONCASPAR, a component of multi-agent treatment for acute lymphoblastic leukemia (ALL) and ex-U.S. rights to ONIVYDE, a component of multi-agent treatment for metastatic pancreatic cancer post gemcitabine-based therapy. Servier is an international pharmaceutical company governed by a non-profit foundation, with its headquarters in France.

The Davis Polk corporate team includes partner William J. Chudd and associates Evan Rosen and Sarah M. Weissman. Partner Frank J. Azzopardi and associate Paul S. Lee are providing intellectual property and technology advice. Partner Michael Mollerus and associate Anne E. McGinnis are providing tax advice. Partner Kyoko Takahashi Lin and counsel David Mollo-Christensen are providing executive compensation advice. Partner Jesse Solomon is providing antitrust and competition advice. Members of the Davis Polk team are based in the New York and Washington DC offices.

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