Sucampo will receive a new, lower price for certain components of or finished product of lubiprostone globally, except for the U.S. and Canada until the license agreement with Takeda Pharmaceutical Co., Ltd. expires in December 31, 2020, and except for Japan until the manufacturing and supply agreement expires or certain material circumstances occur.
Sucampo has the right to qualify a back-up supplier for lubiprostone in expanded circumstances, such as an authorized generic, additional formulations, and/or inability to supply product in certain circumstances.
"Continuing the growth of AMITIZA is the top imperative I outlined earlier this month in my strategic plan for Sucampo. The new agreement will be critical to growing AMITIZA and facilitating our global expansion plans around the world by providing us with greater operational flexibility, lowered overall cost of goods manufactured, and greater margin control," said Peter Greenleaf, chief executive officer of Sucampo. "As we progress our plans to partner AMITIZA globally, including Europe and emerging markets outside of the U.S. and Japan, having greater control over our cost structure will enable us to access markets with tighter reimbursement restrictions. Ultimately, this will make AMITIZA more widely accessible to patients around the world."