Sucampo Pharmaceuticals, Inc. Falls After Failing to End Drug Deal With Takeda Pharmaceutical Co. Ltd.

Sucampo Pharmaceuticals Inc. (SCMP), the maker of the constipation drug Amitiza, dropped the most in about 3 1/2 years after losing a bid in arbitration to sever ties with marketing partner Takeda Pharmaceutical Co. (4502) Sucampo fell 25 percent to $5.23 at the close of trading, the biggest decline for the Bethesda, Maryland-based company since Dec. 1, 2008. The 2004 agreement with Osaka, Japan-based Takeda for marketing Amitiza will have to remain in place until October 2020, Sucampo said today in a statement, citing a decision by the International Chamber of Commerce, a private arbitrator. Sucampo had sought to end the partnership early because Takeda breached the agreement by not maximizing U.S. sales of Amitiza, Kari Watson, a spokeswoman for Sucampo, said in an e-mail.

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