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Shire Proposes to Expand Specialist Gastrointestinal Portfolio

k sales of over EUR300 million - The acquisition expands and complements Shire's commercial capability and longstanding expertise in the GI field - The acquisition of Movetis will be financed from Shire's existing cash resources - Institutional shareholders, holding in aggregate 38.9% of Movetis' issued share capital, have unconditionally agreed to accept the offer in respect of their own shares - Shire confirms that its business continues to perform very well. Given this strong performance there is no impact to previously stated guidance for 2010 due to the modest short term financial effect of the acquisition of Movetis. Shire will update its guidance when it announces its Second Quarter results on Wednesday August 4, 2010

Shire plc (LSE: SHP, NASDAQ: SHPGY), the global specialty biopharmaceutical company, announces that a Luxembourg incorporated wholly-owned subsidiary of Shire plc will launch a voluntary public takeover offer for all the shares in Movetis NV, the Belgium-based European specialty gastrointestinal (GI) company. Movetis is listed on Euronext and focuses on discovering, developing and commercializing innovative treatments for GI conditions with a high unmet medical need.

Movetis' board unanimously supports the transaction and will recommend acceptance of the offer to its shareholders. Institutional shareholders holding 38.9% of Movetis' issued share capital, have unconditionally agreed to accept the offer in respect of their own shares.

This proposed acquisition will significantly broaden Shire's GI portfolio and immediately add growing revenues, further expanding Shire's GI market presence

SOURCE Shire plc
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