TOKYO--(BUSINESS WIRE)--R-Tech Ueno (JASDAQ:4573) has announced The International Court of Arbitration, International Chamber of Commerce (“ICC”), has issued its arbitral award in the arbitration filed by R-Tech Ueno, Ltd., together with Sucampo Pharmaceuticals, Inc. (“Sucampo”) and Sucampo AG, against Takeda Pharmaceutical Company Ltd. (“Takeda”). The arbitral award stipulated that the claims of R-Tech Ueno were not accepted and the Supply Agreement among R-Tech Ueno, Takeda and Sucampo executed in 2004 regarding the exclusive supply of AMITIZA® capsules shall continue to be in effect. No damages were rendered.
R-Tech Ueno will continue to supply AMITIZA® capsules to Takeda based on the Supply Agreement.
Although R-Tech Ueno has not announced its business forecast for the fiscal year ending March 2013, it will do after consideration of the arbitration result.
About R-Tech Ueno, Ltd.
R-Tech Ueno is a bio venture company established in September 1989 for the purpose of R&D and marketing of drugs. Under the leadership of the CEO, also a medical doctor, the company is developing new drugs on the theme “Physician-Oriented New Drug Innovation”, targeting ophthalmologic and dermatologic diseases that previously had no effective therapeutic agent.
We aim at becoming a “global pharmaceutical company specializing in specific fields (ophthalmology and dermatology) and developing and selling pharmaceutical products through the eyes of doctors.” We are promoting the development of new drugs for unmet medical needs for which the government provides recommendations and assistance, orphan drugs and the drugs in the field of anti-aging (lifestyle drugs).
About Sucampo Pharmaceuticals, Inc.
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 enzymatic, 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 about Sucampo Pharmaceuticals, please visit http://www.sucampo.com/