BeNeLuxBelgiumNetherlandsLuxembourg

Shire zeroes in on Movetis to expand gastrointestinal pipeline

02.09.2010

London/Turnhout – Speciality drug maker Shire plc has launched a EUR19-a-share offer for Belgian biotech company Movetis N.V., making the proposed acquisition worth EUR428m in cash. Shire said the deal would broaden its gastro­intestinal portfolio and expand its presence in Europe, where Movetis markets Resolor (prucalopride) for chronic constipation in women for whom laxatives fail to provide adequate relief. The proposed acquisition of Movetis fits into the company’s growth strategy of acquiring near-to-market or marketed products for specialty indications. By buying Movetis, Shire will add four gastrointestinal programs to its pipeline: two in the clinic, and two in preclinical testing. Movetis’ management have unanimously recommended the offer to shareholders, which represents a premium of 74% on stock prices before the bid was first announced in early August.

Brief and dynamic history

Movetis’ lead product Resolor has gained marketing approval in 30 European countries. The drug made its debut in Germany this January, and has since launched in the UK, where the health-cost regulator NICE recommended its use to the National Health Service on August 3rd. Staf Van Reet, board chairman of Movetis, described the Shire offer as “a further remarkable milestone in Movetis’ brief and dynamic history.” This includes an EUR85m offering in December 2009 and a single private EUR49m financing round in 2007. Movetis was spun out of Johnson & Johnson in 2006.

BeNeLuxBelgiumNetherlandsLuxembourg

29.03.2012

Brussels – Promethera Biosciences has completed a Series B financing round, generating proceeds of €23.6m. The Belgian cell therapy company secured a capital increase of €17m from its new investors, among them the venture arms...

BeNeLuxBelgiumNetherlandsLuxembourg

19.03.2012

Leuven – Biopharmaceutical company ThromboGenics has entered into an agreement with Alcon Inc., a division of Novartis for the commercialisation of its product ocriplasmin in all markets outside the U.S. ThromboGenics said it...

BeNeLuxBelgiumNetherlandsLuxembourg

07.03.2012

Amsterdam Molecular Therapeutics has announced a financial manoeuvre aimed at getting the biotech out of a hopeless situation. The assets and – more importantly – the liabilities of the drug developer will be acquired by a newly...

BeNeLuxBelgiumNetherlandsLuxembourg

20.02.2012

Amsterdam - Amsterdam Molecular Therapeutics has announced a financial manoeuvre which is aimed to get the biotech out of a dead end. The assets and – more importantly – the liabilities of the drug developer will be acquired by...

BeNeLuxBelgiumNetherlandsLuxembourg

10.02.2012

Glasgow/Leuven - With a little help from the EU, two biotech companies are banding together to develop the first stem cell therapy against rheumatoid arthritis. UK-based Sistemic will work with TiGenix to develop the Belgian's...

BeNeLuxBelgiumNetherlandsLuxembourg

25.01.2012

Amsterdam – Two elephants in the biofuels business join forces. Dutch food and chemicals group Royal DSM and POET, LLC, a US-based ethanol producer, announced a plan to build a commercial cellulosic ethanol plant. POET–DSM...

BeNeLuxBelgiumNetherlandsLuxembourg

13.01.2012

Heerlen - Royal DSM N.V will be the industrial partner to the Panoptes consortium, which aims to develop novel drug delivery technology for the posterior eye segment. The four year project is supported by EUR4m in funding from...

BeNeLuxBelgiumNetherlandsLuxembourg

04.01.2012

Leiden - Dutch Pharming Group NV has taken a further step to secure sound financing even beyond the recent milestone payments. The drug developer announced that it has entered into a financing of approximately €8.4 million by...

BeNeLuxBelgiumNetherlandsLuxembourg

16.12.2011

Ghent – Just days after US pharmaceuticals giant Pfizer pulled out of a rheumatoid arthritis pact with Ablynx NV, the Belgian biopharmaceutical company expanded its relationship with Merck Serono. Ablynx has now entered into a...

Displaying results 1 to 10 out of 304

1-10 Next >

© 2007-2014 BIOCOM

http://www.european-biotechnology-news.com/news/messages-archive/archive-benelux/article/shire-zeroes-in-on-movetis-to-expand-gastrointestinal-pipeline.html

Print Magazine

Event Video

All videos

Events

All Events

Stock list

All quotes

TOP

  • MOLOGEN6.46 EUR16.82%
  • CYTOS0.17 CHF13.33%
  • WILEX2.25 EUR7.14%

FLOP

  • 4SC0.87 EUR-1.14%
  • CYTOTOOLS31.45 EUR-0.47%
  • ADDEX3.20 CHF0.00%

TOP

  • BIOFRONTERA2.88 EUR30.9%
  • ADDEX3.20 CHF3.2%
  • HBM84.00 CHF0.6%

FLOP

  • CYTOS0.17 CHF-29.2%
  • PAION2.22 EUR-27.2%
  • 4SC0.87 EUR-25.6%

TOP

  • SANTHERA82.40 CHF2085.7%
  • CO.DON2.58 EUR163.3%
  • PAION2.22 EUR146.7%

FLOP

  • CYTOS0.17 CHF-95.7%
  • 4SC0.87 EUR-50.8%
  • THERAMETRICS0.07 CHF-50.0%

No liability assumed, Date: 20.10.2014


Current issue

All issues

Product of the week

Products