Aug 16 2010
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.
SOURCE R-Tech Ueno, Ltd.
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