(By Balachander) Abbott Laboratories (NYSE: ABT) and Sucampo Pharmaceuticals Inc. (NASDAQ: SCMP) announced the launch of AMITIZA in Japan, a prescription medicine to treat chronic constipation not caused by organic diseases.
"AMITIZA may significantly advance the treatment of chronic constipation and will be the only prescription option available in Japan for this condition," the companies noted.
The U.S.-based companies said AMITIZA was approved by the Ministry of Health, Labor and Welfare (MHLW) in Japan in June. The medicine is approved in the United States for the treatment of two constipation-related indications, and in Switzerland and the United Kingdom for one constipation-related indication.
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The medicine has a unique mode of action that induces natural bowel movement frequency that is more in line with normal bowel habits, Abbott and Sucampo said. Chronic constipation is one of the most common digestive condition complaints.
Abbott will promote and distribute AMITIZA in Japan under the terms of the 2009 license, commercialization and supply agreement with Sucampo. SPL submitted a marketing application to the Japanese Pharmaceuticals and Medical Devices Agency for approval to market AMITIZA in September 2010.
On Friday, ABT shares ended at $64.47, while SCMP shares closed at $4.97.