Shire to acquire Movetis

TURNHOUT, Belgium British drug maker Shire will acquire Belgian drug maker Movetis for $567 million, Movetis said.

Shire will acquire all outstanding shares of the Movetis, which makes gastroenterology drugs, offering a 74% premium on the value of the Belgian drug maker’s stock.

“This transaction, when completed, will create significant shareholder value,” Movetis chairman Staf Van Reet said. “This offer is a further remarkable milestone in Movetis’ brief and dynamic history.”