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Shire (SHPG) is selling its oncology business to unlisted French drug maker Servier for $2.4 billion, a deal that suggests there is value locked up within the Shire portfolio, despite a dismal share price performance in the past two years, Reuters explains. Meanwhile, Takeda Pharmaceuticals (TKPYY) chief executive Chrisophe Weber is reported to be lining up meetings with its major Shire investors ahead of making a potential $50 billion offer for Shire, the Telegraph says. The sale of the cancer business may be a deterrent for Takeda, since oncology is one area highlighted as driving the case for a deal.

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