Belgium's Movetis planning IPO in November -paper

BRUSSELS Oct 19 (Reuters ) - Belgian pharmaceutical company Movetis is planning an initial public offering next month and could trade on Euronext Brussels from December, Belgian daily De Standaard said on Monday.

KBC and Credit Suisse are handling the flotation, De Standaard said. It did not provide details on how much the company was planning to raise.

Movetis was not immediately available for comment.

De Standaard said that Credit Suisse also examined a possible sale of the company, but found that that was not a viable alternative.

Movetis was spun off in November 2006 from Janssen Pharmaceutica, a unit of pharma giant Johnson & Johnson (JNJ.N).

It develops and commercialises drugs for the treatment of digestive and gastrointestinal disorders.

The group has received a positive opinion from EU medical experts for its leading product, prucalopride, to treat chronic constipation. The European Commission typically approves for marketing drugs towards which its medical experts are favourable.

Commercialisation of the drug will require extra funds, De Standaard said, adding that the group also has a number of other products in the pipeline. (Reporting by Antonia van de Velde; Editing by Mike Nesbit)