BETHESDA, Md.--(BUSINESS WIRE)--
Sucampo Pharmaceuticals, Inc. (NASDAQ: SCMP) announced today that the
International Court of Arbitration, International Chamber of Commerce
(ICC), has notified the Company of a change in the anticipated date of
the arbitration decision related to its demand for arbitration under the
applicable provisions of the Collaboration and License Agreement with
Takeda Pharmaceuticals Company Limited, or Takeda. The ICC extended the
date from May 31, 2012, to June 29, 2012. Sucampo does not know how long
thereafter the proceedings will conclude.
About Sucampo Pharmaceuticals
Sucampo Pharmaceuticals, Inc., an international pharmaceutical company
is focused on the discovery, development and commercialization of
proprietary drugs based on prostones. The therapeutic potential of
prostones, which occur naturally in the human body as a result of
enzymic (15-PGDH) transformation of certain fatty acids, was first
identified by Ryuji Ueno, M.D., Ph.D., Ph.D., Sucampo Pharmaceuticals'
Chairman and Chief Executive Officer. Dr. Ueno founded Sucampo
Pharmaceuticals in 1996 with Sachiko Kuno, Ph.D., founding Chief
Executive Officer and currently Advisor, International Business
Development, and a member of the Board of Directors. For more
information, please visit www.sucampo.com.
Sucampo Forward-Looking Statements
This press release contains "forward-looking statements" as that term is
defined in the Private Securities Litigation Reform Act of 1995. These
statements are based on management's current expectations and involve
risks and uncertainties, which may cause results to differ materially
from those set forth in the statements. The forward-looking statements
may include statements regarding product development, product potential,
future financial and operating results, and other statements that are
not historical facts. The following factors, among others, could cause
actual results to differ from those set forth in the forward-looking
statements: the impact of pharmaceutical industry regulation and health
care legislation; Sucampo's ability to accurately predict future market
conditions; dependence on the effectiveness of Sucampo's patents and
other protections for innovative products; the risk of new and changing
regulation and health policies in the US and internationally and the
exposure to litigation and/or regulatory actions.
No forward-looking statement can be guaranteed and actual results may
differ materially from those projected. Sucampo undertakes no obligation
to publicly update any forward-looking statement, whether as a result of
new information, future events, or otherwise. Forward-looking statements
in this presentation should be evaluated together with the many
uncertainties that affect Sucampo's business, particularly those
mentioned in the risk factors and cautionary statements in Sucampo's
Form 10-Q for the quarter ended May 10, 2012, which the Company
incorporates by reference.
