Mallinckrodt plc to acquire Sucampo Pharma and with it Amitiza and Rescula.

Mallinckrodt plc a leading global specialty pharmaceutical company, and Sucampo Pharmaceuticals, Inc., a global biopharmaceutical company, announced that they have entered into an agreement under which Mallinckrodt will acquire Sucampo, including its commercial and development assets. The transaction was approved by the Boards of Directors of both companies. Sucampo commercial assets include Amitiza (lubiprostone) a treatment of chronic idiopathic constipation (CIC) in adults, irritable bowel syndrome with constipation (IBS-C) in women 18 years of age and older, and opioid-induced constipation (OIC) in adult patients with chronic, non-cancer pain, including patients with chronic pain related to prior cancer or its treatment who do not require frequent opioid dosage escalation.They also include Rescula (unoprostone isopropyl ophthalmic solution) 0.15%,which is indicated for ocular hypertension and open-angle glaucoma, and marketed in Japan. Mallinckrodt will acquire global rights to the product, with annual net sales of approximately $9 million. Sun Acquisition Co., a subsidiary of Mallinckrodt, will commence a cash tender offer to purchase all of the outstanding shares of Sucampo Pharmaceuticals' common stock for $18.00 per share. The total transaction value (including anticipated payments in respect of Sucampo's debt) is approximately $1.2 billion.