Sucampo Pharmaceuticals, Inc. (SCMP) announced that the company and its partner R-Tech Ueno, Ltd have entered into a stipulation and license agreement with Par Pharmaceutical, Inc.
Per the agreement, Sucampo or R-Tech Ueno will grant Par Pharma the license for a generic version of Rescula (unoprostone isopropyl ophthalmic solution) 0.15% before the latest patent expiration in Jul 2021. Par Pharma will split the gross profits of the generic or authorized generic version sold during the tenure of the agreement with Sucampo. Sucampo will also supply an authorized generic version of Rescula to Par at a negotiated price if Par Pharma decides to launch the same.
We note that Rescula is approved for lowering intraocular pressure in patients with open-angle glaucoma or ocular hypertension.
Earlier, Par Pharma had submitted an ANDA to the FDA for the approval to market, sell and use a generic version of Rescula.
We remind investors Sucampo holds exclusive rights to commercialize and develop Rescula worldwide for its approved indications and new indications under an agreement with R-Tech. However, the company ceased marketing Rescula in the third quarter of 2014 in order to focus on its other approved drug, Amitiza and pipeline.
Sucampo settled patent litigations and amended major agreements related to Amitiza in Oct 2014 with Anchen Pharmaceuticals, Inc. and Par Pharma.
Sucampo currently carries a Zacks Rank #1 (Strong Buy). Other favorably-placed stocks in the healthcare sector include Biodel Inc. (BIIB), Lannett Company, Inc (LCI) and Impax Laboratories (IPXL). All three carry the same rank as Sucampo.
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