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news.US-based Sucampo Pharmaceuticals has launched an all-cash tender offer through its Japanese subsidiary to acquire Japan-based pharmaceutical company R-Tech Ueno for around JPY33bn ($278m).
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As part of the deal, R-Tech Ueno will receive $54m in cash and 2.5 million Sucampo shares and Sucampo will buy 56% of the outstanding shares of R-Tech Ueno in the tender offer.
Separately, Sucampo has also signed an agreement with R-Tech’s founders and a related entity to acquire the remaining 44% interest of the company.
Sucampo chief executive officer Peter Greenleaf said: "This immediately accretive transaction accelerates Sucampo’s growth and delivers on our strategic objectives of strengthening our financial performance and diversifying and expanding our product development pipeline.
"By securing a larger portion of the global economics of AMITIZA and control over the manufacturing and supply chain for the product, we will not only increase our revenues but also create the opportunity for greater efficiencies.
"In addition, this deal strengthens our early pipeline with product candidates across multiple different diseases of high unmet medical need, including nonalcoholic steatohepatitis (NASH) and chronic obstructive pulmonary disease (COPD)."
R-Tech Ueno manufactures Amitiza (lubiprostone) for Sucampo and its commercialization partners, Takeda Pharmaceuticals, Mylan and Harbin Gloria Pharmaceuticals.
In Japan, R-Tech Ueno also secures revenue from sales of Rescula (unoprostone isopropyl).
Additionally, R-Tech Ueno has a diverse pipeline of drug candidates in various stages of development in gastroenterology, ophthalmology, autoimmune and inflammatory diseases, and oncology.