Shire To Boost Its GI Portfolio Via Movetis Acquisition

Multinational drugmaker Shire is to acquire Belgian drugmaker Movetis for EUR428mn (US$565mn), or EUR19 a share - a 60% premium on their earlier price of EUR11.90 - funded by the company's cash resources. Shareholders with a total of 38.9% of Movetis's shares, including Sofinnova Partners, Sofinnova Ventures and Life Sciences Partners, have agreed to back the deal.

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