April 3, 2017 / 10:40 AM / 4 months ago

BRIEF-Sucampo acquires Vtesse in a deal valued at $200 mln

2 Min Read

April 3 (Reuters) - Sucampo Pharmaceuticals Inc:

* Sucampo Pharmaceuticals Inc- transaction valued at $200 million upfront

* Sucampo acquires Vtesse Inc

* Deal expected to be accretive to earnings beginning in 2019

* Sucampo Pharmaceuticals Inc- Vtesse employees are expected to join Sucampo

* Sucampo pharmaceuticals - acquisition provides sucampo with vts-270, which is in a pivotal study for treatment of niemann-pick disease type c1 (npc-1)

* Vtesse team will continue to support advancement of vts-270

* Sucampo Pharma -upfront payment made in form of issuance of 2.8 million Sucampo class a common shares to Vtesse shareholders and $170 million in cash on hand

* Sucampo Pharmaceuticals Inc- revised full year 2017 guidance post Vtesse, revenue $220 million - $230 million

* Sucampo pharmaceuticals inc- revised full year 2017 guidance post Vtesse for adjusted. Eps $1.00 - $1.10

* Sucampo Pharmaceuticals - Vtesse and Sucampo intend to establish a foundation after closing of acquisition to support research related to NPC disease

* Sucampo Pharmaceuticals Inc says revised full year 2017 guidance guidance post Vtesse, free cash flow $86 million - $96 million Source text for Eikon: Further company coverage:

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