Mallinckrodt to acquire constipation drug Amitiza owner Sucampo for $1.2bn
Pharma acquisition news : UK-based Mallinckrodt has agreed to acquire Sucampo Pharmaceuticals along with its commercial and development assets including the constipation drug Amitiza (lubiprostone), for about $1.2 billion.
The transaction also includes assumption of $360 million of Sucampo’s debt by Mallinckrodt.
Amitiza (lubiprostone) had been approved in the US for three types of constipation problems.
Another commercial asset of Sucampo is Rescula (unoprostone isopropyl ophthalmic solution) 0.15%, which is marketed in Japan for the treatment of ocular hypertension and open-angle glaucoma.
Pills generic image. Image courtesy of Serge Bertasius Photography at FreeDigitalPhotos.net
Sucampo’s assets in development are VTS-270 and CPP-1X/sulindac.
VTS-270 is currently in phase 3 stage for the treatment of Niemann-Pick Type C, a neurodegenerative disease.
CPP-1X/sulindac is also in phase 3 stage, and has been designed for the treatment of Familial Adenomatous Polyposis (FAP), which is an inherited disorder, characterized by colon and rectum cancers. The drug is being developed by Sucampo in collaboration with Cancer Prevention Pharmaceuticals.
Commenting on Mallinckrodt acquisition of Sucampo Pharmaceuticals, Mark Trudeau – the CEOand President of Mallinckrodt, said: “Mallinckrodt’s acquisition of Sucampo is the latest milestone towards our vision of becoming an innovation-driven specialty pharmaceutical growth company focused on improving outcomes for patients with severe and critical conditions.
“The acquisition brings near-term net sales and earnings accretion through AMITIZA and bolsters our pipeline in rare diseases with VTS-270 and CPP-1X/sulindac. We look forward to adding the Sucampo portfolio and welcoming members of its team to Mallinckrodt.”
Mallinckrodt acquisition of Sucampo Pharmaceuticals has been approved by the boards of directors of both firms.
Peter Greenleaf – Chairman and CEO of Sucampo, commenting on Mallinckrodt acquisition of Sucampo Pharmaceuticals, said: “We believe that this transaction with Mallinckrodt represents significant value for shareholders.
“With the addition of its significant resources and expertise, we believe Mallinckrodt is a natural partner to accelerate the development of our rare disease assets in NPC and FAP, and to continue to provide AMITIZA for patients suffering from constipation-related disorders.”
Mallinckrodt acquisition of Sucampo Pharmaceuticals will have to clear customary closing conditions that include expiration of the applicable waiting period and the approval of shareholders of the US pharma company.