|Sucampo Announces Arbitration Decision; QIAGEN Achieves Healthcare Milestone for Colorectal Cancer|
|By Staff and Wire Reports|
|Friday, 06 July 2012 18:25|
Sucampo Pharmaceuticals, Inc. (NASDAQ: SCMP) announced it has received a final binding decision on its claims in the dispute with its partner, Takeda Pharmaceutical Company Limited. The International Court of Arbitration, International Chamber of Commerce (ICC) did not agree with Sucampo's claims and did not award any attorneys' fees or costs. Sucampo is disappointed with the ICC's decision.
The decision confirms that the Collaboration Agreement and all of its terms, rights and conditions for AMITIZA® (lubiprostone) will remain in force until it expires in October 2020, including the royalty rate arrangement. The royalty revenue to Sucampo was $41.5 million in 2011 and $10.9 million in the first quarter of 2012. AMITIZA was approved for the treatment of chronic idiopathic constipation (CIC) in adults in 2006 and for the treatment of irritable bowel syndrome with constipation (IBS-C) in adult women in 2008. AMITIZA is the only FDA-approved medicine for either of these indications.
“AMITIZA is a brand whose safety and efficacy has been proven over six years and six million patients. Through this arbitration process, we have gained a greater understanding that there is significant potential to further increase AMITIZA's value, make the product available to currently underserved patients, and maximize its net sales revenue by optimizing its marketing and commercialization efforts.” commented Ryuji Ueno, M.D., Ph.D., Ph.D., Sucampo's Chairman and Chief Executive Officer. “We anticipate filing a supplemental new drug application in the near-term for the treatment of opioid-induced constipation which, if approved, would be the third indication for AMITIZA.”
QIAGEN N.V. (NASDAQ:QGEN) announced it has received U.S. FDA approval to market the therascreen® KRAS RGQ PCR Kit (therascreen KRAS test) to provide guidance on the use of Erbitux® (cetuximab) as a treatment in patients with metastatic colorectal cancer.
The U.S. FDA approval of the KRAS test kit marks a milestone in QIAGEN's global expansion of its Personalized Healthcare franchise which includes an industry-leading portfolio of molecular companion diagnostics to aid treatment decisions in oncology. QIAGEN already markets a broad range of companion diagnostic tests covering 30 biomarkers in Europe, Asia/Pacific and Japan.
"We are very pleased to receive FDA approval to launch our therascreen KRAS test in the United States and to play a role in transforming the care of colorectal cancer patients. This approval marks an important step for QIAGEN, but also an important step in Personalized Healthcare, as we are now launching a major molecular companion diagnostic product in the U.S.," said Peer M. Schatz, Chief Executive Officer of QIAGEN N.V. "With a growing portfolio of innovative tests and efficient automation platforms, we are proud to be helping to make healthcare more effective, providing ways for payers to more efficiently use healthcare resources and, most important, making a positive impact on the care of patients."
Amarantus BioSciences, Inc. (OTCBB: AMBS), a biotechnology company developing new treatments for brain-related disorders including Parkinson's disease and Traumatic Brain Injuries (TBI) centered on its proprietary anti-apoptotic therapeutic protein known as MANF, today announced that its President & CEO Gerald E. Commissiong was interviewed by TheStockRadio.com following Amarantus' recent presentation at the National Investment Banking Association conference.
Amgen (NASDAQ: AMGN) today announced the completion of the acquisition of KAI Pharmaceuticals, a privately held company based in South San Francisco.
ArQule, Inc. (Nasdaq: ARQL) today announced that the Company will present at the Seventh Annual JMP Securities Healthcare Conference on Friday, July 13, 2012 at 12:00 pm eastern time.
Auxilium Pharmaceuticals, Inc. (Nasdaq: AUXL) today announced that executive management will participate in the JMP Securities 2012 Healthcare Conference to be held July 12-13, 2012 at the Peninsula Hotel in New York City.
eHealth, Inc. (NASDAQ: EHTH), the nation's leading online source of health insurance for individuals, families and small businesses, announced today that the Honorable Ellen O'Kane Tauscher has been appointed as an independent director to eHealth's Board of Directors.
Navidea Biopharmaceuticals, Inc. (NYSE MKT: NAVB), a specialty pharmaceutical company focused on precision diagnostic radiopharmaceuticals, today announced that data from its Lymphoseek program were accepted for presentation at the European Association for Cancer Research (EACR) and the American Head and Neck Society’s 8th International Conference on Head and Neck Cancer Conference.
PharMerica Corporation (NYSE: PMC) announced today that it will provide an online simulcast of its second quarter 2012 earnings conference call on Friday, August 3, 2012.
Repligen Corporation (NASDAQ:RGEN) today announced that Walter C. Herlihy, Ph.D., President and Chief Executive Officer, will present a corporate update at the JMP Securities Healthcare Conference 2012 in New York.
Sequenom, Inc. (NASDAQ: SQNM), a life sciences company providing innovative genetic analysis solutions, today confirmed that the United States District Court for the Northern District of California has denied a motion by Sequenom for a preliminary injunction against Ariosa Diagnostics.
SpectraScience, Inc. (OTCQB: SCIE) (PINKSHEETS: SCIE), a San Diego based medical device company, today announced that Chief Executive Officer Michael Oliver will be presenting at the OneMed Forum investor conference in New York City on Thursday, July 12, 2012 at 9:00 a.m. Eastern.
Sucampo Pharmaceuticals, Inc. (NASDAQ: SCMP) today announced that it has received a final binding decision on its claims in the dispute with its partner, Takeda Pharmaceutical Company Limited.
Zalicus Inc. (NASDAQ: ZLCS), a biopharmaceutical company that discovers and develops novel treatments for patients suffering from pain and immuno-inflammatory diseases, today announced that Zalicus management will present at the 2012 JMP Securities Healthcare Conference at 10:00 a.m. ET on Thursday, July 12, 2012 at the Peninsula Hotel in New York.