Sucampo Pharma (SCMP) Arbitration Date w/ Takeda Extended; Disappointed by Outcome
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Sucampo Pharmaceuticals, Inc. (NASDAQ: SCMP) today announced that the International Court of Arbitration, International Chamber of Commerce (ICC) has notified the Company of a change in the anticipated date of the decision related to the Company’s demand for arbitration under the applicable provisions of the Collaboration and License Agreement with Takeda Pharmaceuticals Company Limited, or Takeda. The ICC has extended the date from June 29, 2012 to July 31, 2012. Sucampo does not know how long thereafter the proceedings will conclude.
Sucampo is disappointed by the extension of the deadline of the decision; however, the Company continues its substantial planning in anticipation of a favorable award. Through these efforts, we look forward to increasing patient and healthcare provider access to Amitiza in the event of a favorable outcome.
Sucampo is disappointed by the extension of the deadline of the decision; however, the Company continues its substantial planning in anticipation of a favorable award. Through these efforts, we look forward to increasing patient and healthcare provider access to Amitiza in the event of a favorable outcome.
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