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Shire has agreed to pay $430 million for Movetis, a Belgium-based specialty pharmaceuticals firm focused on gastrointestinal products. Shire says Movetis, spun off from Johnson & Johnson in 2006, complements its existing GI portfolio while also expanding its presence outside the U.S. The deal includes Resolor, a chronic-constipation treatment, and a pipeline of GI drug candidates that includes two compounds in Phase II clinical trials and two in preclinical development. Shire expects Resolor’s peak sales to top $400 million per year.
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