logo
  Join        Login             Stock Quote

Sucampo (SCMP) Receives Milestone Payment From Abbott (ABT) For Chronic Constipation Therapy In Japan

 December 11, 2012 07:21 AM
 


(By Balaseshan) Sucampo Pharmaceuticals Inc. (NASDAQ: SCMP) said its unit has received a milestone payment of $15 million from Abbott Laboratories (NYSE: ABT) on first sale of chronic constipation treating prescription medication Amitiza (lubiprostone) in Japan.

Sucampo AG has received a $15 million milestone payment from Abbott Japan Co. Ltd., pursuant to the existing license, commercialization, and supply agreement between Sucampo Pharma Ltd. (SPL), SPI's subsidiary, and Abbott.

The milestone payment was triggered by the first sale of Amitiza (lubiprostone) capsule 24 µg in Japan. Amitiza is available through Abbott in Japan as a prescription medication for chronic constipation not caused by organic diseases, and was launched to primary care and specialist physicians on November 21, 2012.

[Related -Can Abbvie Inc (NYSE:ABBV) Trump Gilead Sciences, Inc.'S (NASDAQ:GILD) HCV Lead?]

Amitiza is the world's first chloride channel activator approved for therapeutic use, and has a unique mechanism of action to restore mucosal barrier function. With more than six million prescriptions worldwide, it is the first and currently the only prescription medicine available in Japan for chronic constipation.

"The availability and first sale of Amitiza in Japan is another step forward in the company's objective of bringing medicines with novel mechanisms of action to patients globally with unmet medical needs," said Sucampo's Chairman, Chief Executive Officer, and Chief Scientific Officer Ryuji Ueno.

[Related -Abbvie Inc (NYSE:ABBV): Ready To Shift Gears In 2014?]

In 2009, SPL and Abbott entered into a license, commercialization and supply agreement for Amitiza in Japan.

Outside Japan, Amitiza is approved in the United States for the treatment of chronic idiopathic constipation (CIC) in adults (24 mcg twice daily) and irritable bowel syndrome with constipation (IBS-C) in women 18 years of age and older (8 mcg twice daily). Amitiza is also approved for chronic idiopathic constipation in Switzerland and the United Kingdom.

SCMP closed Monday's regular session up 0.43% at $4.66, while ABT ended down 0.31% at $65.33.

iOnTheMarket Premium
Advertisement

Advertisement


Post Comment -- Login is required to post message
Name:  
Alert for new comments:
Your email:
Your Website:
Title:
Comments:
 

rss feed

Latest Stories

article imageOld Bank's New Breakout has Big Rally Potential

One of my favorite things to see in a long candidate is a pattern of beating Wall Street's earnings read on...

article imageIs The Stock Market's 5-Year Return A Useful Proxy For Valuation?

Tobin’s Q, a market-valuation metric, is back in the news, in part thanks to a widely read Bloomberg read on...

article image4 Dogs To Sell Immediately

Despite the chorus of analysts and investors calling for the long-awaited correction, the market is showing read on...

article imageThe Fed's Magical Mystery Tour

What's going on at the Fed? Notorious dove, Charles Evans of the Chicago Fed, gave a speech in read on...

Advertisement
Popular Articles

Advertisement
Daily Sector Scan
Partner Center

Related Articles:

Optimism Moving Back Into The Equation
More Articles on: Medical



Fundamental data is provided by Zacks Investment Research, and Commentary, news and Press Releases provided by YellowBrix and Quotemedia.
All information provided "as is" for informational purposes only, not intended for trading purposes or advice. iStockAnalyst.com is not an investment adviser and does not provide, endorse or review any information or data contained herein.
The blog articles are opinions by respective blogger. By using this site you are agreeing to terms and conditions posted on respective bloggers' website.
The postings/comments on the site may or may not be from reliable sources. Neither iStockAnalyst nor any of its independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. You are solely responsible for the investment decisions made by you and the consequences resulting therefrom. By accessing the iStockAnalyst.com site, you agree not to redistribute the information found therein.
The sector scan is based on 15-30 minutes delayed data. The Pattern scan is based on EOD data.