Sucampo Pharma (SCMP) Gets Final Binding Decision in AMITIZA Arbitration
Tweet Send to a FriendGet Alerts SCMP Hot Sheet
Up)
Trade SCMP Now!
Sucampo Pharmaceuticals, Inc. (Nasdaq: SCMP) has received a final binding decision on its claims in the dispute with its partner, Takeda Pharmaceutical Company Limited. The International Court of Arbitration, International Chamber of Commerce (ICC) did not agree with Sucampo’s claims and did not award any attorneys’ fees or costs. Sucampo is disappointed with the ICC’s decision.
The decision confirms that the Collaboration Agreement and all of its terms, rights and conditions for AMITIZA (lubiprostone) will remain in force until it expires in October 2020, including the royalty rate arrangement. The royalty revenue to Sucampo was $41.5 million in 2011 and $10.9 million in the first quarter of 2012. AMITIZA was approved for the treatment of chronic idiopathic constipation (CIC) in adults in 2006 and for the treatment of irritable bowel syndrome with constipation (IBS-C) in adult women in 2008. AMITIZA is the only FDA-approved medicine for either of these indications.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
The decision confirms that the Collaboration Agreement and all of its terms, rights and conditions for AMITIZA (lubiprostone) will remain in force until it expires in October 2020, including the royalty rate arrangement. The royalty revenue to Sucampo was $41.5 million in 2011 and $10.9 million in the first quarter of 2012. AMITIZA was approved for the treatment of chronic idiopathic constipation (CIC) in adults in 2006 and for the treatment of irritable bowel syndrome with constipation (IBS-C) in adult women in 2008. AMITIZA is the only FDA-approved medicine for either of these indications.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
You May Also Be Interested In
- Hess (HES), Elliott to End Proxy Contest; Three Elliott Nominees Will be Added
- Santarus (SNTS) to Present Additional Data on UCERIS
- UPDATE: Google (GOOG) Improves Maps for Mobile
Create E-mail Alert Related Categories
Corporate News, FDA, Litigation
Login with Facebook
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
