Sucampo Pharmaceuticals announces arbitration decision

Friday, July 6, 2012 02:32 PM

Sucampo Pharmaceuticals of Bethesda, Md.,has received a final binding decision on its claims in the dispute with its partner, Takeda Pharmaceutical: 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.

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, and is the only FDA-approved medicine for either indication.

"Amitiza is a brand whose safety and efficacy has been proven over six years and six million patients. Through this arbitration process, we have gained a greater understanding that there is significant potential to further increase Amitiza's value, make the product available to currently underserved patients, and maximize its net sales revenue by optimizing its marketing and commercialization efforts,” said Ryuji Ueno, chairman and CEO of Sucampo. "We anticipate filing a supplemental new drug application in the near-term for the treatment of opioid-induced constipation which, if approved, would be the third indication for Amitiza."

Share:          
CLINICAL TRIAL RESOURCES

Search:

NEWS ONLINE ARCHIVE

Browse by:

CWWeekly

September 15

WIRB-Copernicus Group acquires New England IRB

BBK Worldwide secures $3 million in private á¼€nancingto accelerate its global and technological expansion

Already a subscriber?
Log in to your digital subscription.

Subscribe to CWWeekly.

The CenterWatch Monthly

August

Reality of costs and impact rain on Sunshine Act
Concerns mount over compliance burden on CROs, sponsors, unanticipated consequences for research

Cloud computing expanding into all areas of clinical trial conduct
Benefits outweigh the complexities, challenges of finding right vendors

Already a subscriber?
Log in to your digital subscription.

Purchase the August issue.

Subscribe to
The CenterWatch Monthly.

The CenterWatch Monthly

July

IRB market consolidating rapidly
Private equity driving a new commercial ethical review landscape

Lessons learned from medical device trials
Smaller, faster, more flexible trials hold important insights for pharmaceutical innovation

Already a subscriber?
Log in to your digital subscription.

Purchase the July issue.

Subscribe to
The CenterWatch Monthly.

JobWatch centerwatch.com/jobwatch

Featured Jobs