Shire plans €428m bid for Movetis

Published: 3-Aug-2010

Aims to boost gastrointestinal business and expand in Europe


UK drugmaker Shire plans to acquire Movetis of Belgium for €428m to boost its portfolio of gastrointestinal products as well as to diversify and grow its business in Europe.

The acquisition would give Shire the rights to Resolor for the treatment of chronic constipation in women.

Resolor (prucalopride) is approved in 30 European countries (EU27, Norway, Iceland and Liechtenstein) and a marketing authorisation application is under review in Switzerland.

Dirk Reyn, currently chief executive of Movetis, will lead the European commercialisation from Turnhout in Belgium.

The Movetis board unanimously supports the bid and certain shareholders have unconditionally agreed to tender their shares. One of the conditions of the bid would be that Movetis does not enter into a partnership around Resolor in Europe.

‘This offer is a further remarkable milestone in Movetis’ brief and dynamic history,’ said Staf Van Reet, chairman of Movetis.

Movetis was founded in Belgium in 2006 as a spin-off from Johnson & Johnson. Apart from Resolor, the company has two further GI products in Phase II development and two prioritised compounds in preclinical development, all addressing areas including ascites, paediatric reflux, refractory GORD (gastroesophageal reflux disease) and severe forms of irritable bowel syndrome.

The current portfolio is licensed from Janssen Pharmaceutica, Belgium and Ortho-McNeil Pharmaceutical, two Johnson & Johnson companies.

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