Sucampo forms holding company to improve efficiency
This article was originally published in Scrip
Sucampo Pharmaceuticals is to set itself up with a holding company to provide a more efficient corporate structure. After the changes, Sucampo Pharmaceuticals Inc will be the public company, with three wholly owned subsidiaries: Sucampo Pharma Ltd based in Tokyo and Osaka; Sucampo Pharma Americas Inc, based in Bethesda; andSucampo Pharma Europe, based in Oxford, UK, and Basel, Switzerland. Dr Sachiko Kuno, a co-founder of the company and a former CEO, will rejoin the board on completion of the changes. The company will also undertake a stock buyback of up to $10 million, and has promoted its acting chief financial officer, Jan Smilek, to CFO.