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R-Tech Ueno Submits Request for Arbitration Against Takeda Pharmaceutical Co. Ltd. (TKDG.DE)



8/16/2010 8:25:54 AM

TOKYO, Aug. 16 /PRNewswire/ -- R-Tech Ueno, Ltd., together with Sucampo Pharmaceuticals, Inc. ("Sucampo") and Sucampo AG ("SAG"), has requested arbitration against Takeda Pharmaceutical Co. Ltd. ("Takeda").

R-Tech Ueno supplies Amitiza (TM) Capsules to Takeda pursuant to agreements with Takeda and Sucampo. On March 12, 2010, Sucampo submitted for filing with the International Court of Arbitration, International Chamber of Commerce, a Request for Arbitration against Takeda. In that Request, Sucampo claimed that Takeda has violated the provisions of the October 29, 2004, Collaboration and License Agreement between Sucampo and Takeda and other applicable duties, and that Takeda's violations have injured Sucampo. Sucampo requested all appropriate relief, including termination of the agreements, damages remedy and so on.

In an Amended and Supplemental Request for Arbitration, R-Tech Ueno has joined in the arbitration proceeding filed by Sucampo, and has claimed, among other things, that Takeda has breached the provisions of the October 29, 2004, Supply Agreement among R-Tech Ueno, Takeda and Sucampo, and that its breaches have injured R-Tech Ueno. R-Tech Ueno has requested all appropriate relief, including termination of the agreements, damages remedy and so on.

R-Tech Ueno is unable to predict at this time the effect of this action on the performance of R-Tech Ueno. An announcement will be made when the effect on the performance is fixed.

*About R-Tech Ueno, Ltd.

R-Tech Ueno is a bio-venture company established in September 1989 for the purpose of marketing and R&D 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. The company aims at becoming a "global pharmaceutical company specializing in specific fields (ophthalmology and dermatology) and selling and developing pharmaceutical products through the eyes of doctors." It is promoting development of new drugs of unmet medical needs (medical needs that are not fulfilled yet) which the government recommends and assists, orphan drugs and drugs in the field of anti-aging (lifestyle drugs).

*About Sucampo Pharmaceuticals, Inc.

Sucampo Pharmaceuticals, Inc., an international biopharmaceutical company based in Bethesda, Maryland, focuses on the development and commercialization of medicines based on prostones. The therapeutic potential of prostones, which are bio-lipids that occur naturally in the human body, was first identified by Ryuji Ueno, M.D., Ph.D., Sucampo Pharmaceuticals' Chairman and Chief Executive Officer. In addition, Sucampo has a robust pipeline of compounds with the potential to target underserved diseases affecting millions of patients worldwide.

www.sucampo.com.

Amitiza (TM) is a registered trademark of Sucampo Pharmaceuticals, Inc.

Contact:

Koji Nakamura

Business Management Department

R-Tech Ueno, Ltd.

Phone: +81-3-3596-8011



SOURCE R-Tech Ueno, Ltd.


Read at BioSpace.com

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