Dublin-based pharmaceutical giant Shire offloads oncology business for $2.4bn

Pharmaceutical giant Shire has agreed to sell its oncology business to French firm Servier for $2.4bn ahead of a potential takeover offer by Japan's Takeda.

The drug-maker's board has given the green light to the deal, which does not require shareholder approval and is now expected to close in the second or third quarter of 2018.