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The Mark Protosevich-penned adaptation revolves around disabled medical student Donald Blake, whose alter-ego is the Norse god of thunder Thor.
Stardust helmer Matthew Vaughn had earlier been attached to the comic book movie, but left when his holding deal expired.
Branagh's previous directing credits include Henry V, Frankenstein, Hamlet and last year's Sleuth.
Thor is scheduled for release on June 10, 2010.
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