Sucampo Pharmaceuticals - Fundamentally undervalued
Jul 13th 2012 - Edison Investment Research today published a report on Sucampo Pharmaceuticals entitled "Fundamentally Undervalued". In summary, the report says:
The 28% decline in Sucampo’s stock reflects understandable disappointment at failing to win its arbitration dispute with US partner Takeda over the effective promotion of Amitiza. However, Sucampo’s reduced EV of $176m is now just 3x 2011 revenues. We believe this undervalues the potential for new sales opportunities for Amitiza (in multiple bowel disorders) in the US, Europe and Japan, as well as the planned launch of Rescula (in glaucoma) in the US by the end of 2012. We will shortly be initiating full coverage of Sucampo with a more detailed investment case.
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