Sucampo Announces Extended Collaboration With Takeda - Quick Facts

(RTTNews) - Sucampo Pharmaceuticals, Inc. (SCMP) said it signed on October 9 an amendment to the existing collaboration and license agreement covering the United States and Canada for AMITIZA (lubiprostone) with Takeda Pharmaceutical Company Ltd. (TKPHF.PK).

The amendment includes various modifications to the Collaboration Agreement including the extension of the current term, minimum commercial investment during the current term and many governance changes allowing Takeda additional flexibility in commercializing AMITIZA.

During the extended term, which will begin on January 1, 2021, Takeda will split with Sucampo the gross profits of branded AMITIZA for any dosage strength and form for the existing indications in the U.S. and Canada.

In addition, on April 1, 2015, Takeda will no longer reimburse Sucampo for the product details made by Sucampo sales representatives to healthcare professionals as well as other ancillary costs of the sales force.

"This extended collaboration also allows Sucampo to share in the long-term value of AMITIZA," said Peter Greenleaf, Chief Executive Officer of Sucampo.