Sucampo Pharmaceuticals Inc. (SCMP) announced that the International Court of Arbitration, International Chamber of Commerce or ICC has notified the Company of a change in the anticipated date of the decision related to the Company's demand for arbitration under the applicable provisions of the Collaboration and License Agreement with Takeda Pharmaceuticals Company Limited, or Takeda. The ICC has extended the date from June 29, 2012 to July 31, 2012. Sucampo does not know how long thereafter the proceedings will conclude.
Sucampo said it is disappointed by the extension of the deadline of the decision; however, the Company continues its substantial planning in anticipation of a favorable award. The company said that through these efforts, it looks forward to increasing patient and healthcare provider access to Amitiza in the event of a favorable outcome.
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