Sucampo sells Abbott Japan Amitiza rights

The USA's Sucampo Pharmaceuticals has licensed the Japanese rights for its Amitiza (lubiprostone), for the treatment of chronic idiopathic  constipation, to the local subsidiary of Abbott Laboratories.

Under the terms of the agreement, Abbott will receive exclusive rights  to commercialize lubiprostone in Japan for the treatment of CIC and  first refusal to any additional indications for which the drug is  developed in that country. The health care major will be responsible for  all commercialization expenses and efforts.

Sucampo will receive an upfront payment of $10.0 million and additional  development and commercialization milestones. It will continue to lead  the development and regulatory activity of the drug in Japan and be  responsible for the associated costs. Following approval, Abbott will  purchase the finished product for distribution in the region.