Sucampo's Walls Are Beginning To Close In

10/31/17

Sucampo Pharmaceuticals (NASDAQ: SCMP) is a drug developer based out of Maryland focused on specialized medicine with product and operations now spanning multiple continents. The company has been under the leadership of Peter Greenleaf since March 2014, at the time replacing the co-founder, CEO, and CSO Ryuju Ueno. Greenleaf was formerly CEO and President of Histogenics (NASDAQ: HSGX), a regenerative medicine company still in the clinical stages (current Market Cap of $47m). Greenleaf became the keeper of Sucampo’s lead commercial gastrointestinal (GI) product Amitiza (lubiprostone), which is approved for several indications: Chronic Idiopathic Constipation (CIC), Irritable Bowl Sydrome – Constipation (IBS-C), and Opioid Idiopathic Constipation (OIC) in adults. The twice daily pill (24mcg and 8mcg) increases intestinal fluid secretion via activation of apical CIC-2 channels in the small intestine.

Amitiza can be called a success as its tenth year (2016) of sales in the US concluded at yet another record gross total of $416.5m (+9.5% to 2015). Since 2004 and its commercialization in 2007, Amitiza has been marketed in global partnership with Japanese Pharmaceutical giant Takeda (OTC: OTCPK:TKPYY), excluding the Japan and China markets. This collaboration and licensing agreement has been extended past its original North American expiration date of December 31, 2020. The drug is marketed in partnership with Mylan, Inc (NASDAQ: MYL) in Japan and Harbin Gloria Pharmaceuticals Co in China.

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