Sucampo receives final binding decision on dispute with Takeda Pharmaceutical

theflyonthewall.com

Sucampo Pharmaceuticals announced that it 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, or 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 will remain in force until it expires in October 2020, including the royalty rate arrangement. The royalty revenue to Sucampo was $41.5M in 2011 and $10.9M in the Q1 of FY12.

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