Mallinckrodt has completed its previously announced acquisition of biopharmaceutical firm Sucampo Pharmaceuticals, including the firm’s commercial and development assets for a total value of approximately $1.2bn.

The acquisition agreement was signed between the firms in December 2017.

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Mallinckrodt president and CEO Mark Trudeau said: “We are pleased to complete our acquisition of Sucampo, bringing near-term net sales and earnings accretion while bolstering our pipeline. We are also pleased to welcome members of the Sucampo team into Mallinckrodt, and look forward to continuing their strong efforts to bring much-needed therapies to patients suffering from rare diseases.

“This is an important next step towards our vision of becoming an innovation-driven specialist pharmaceutical growth company focused on improving outcomes for patients with severe and critical conditions.”

“This is an important next step towards our vision of becoming an innovation-driven specialist pharmaceutical growth company focused on improving outcomes for patients with severe and critical conditions.”

The acquisition adds the US Food and Drug Administration (FDA)-approved AMITIZA (lubiprostone), RESCULA, VTS-270 and CPP-1X / sulindac to Mallinckrodt’s portfolio.

AMITIZA is indicated for the treatment of constipation in adults and also available in the UK, Japan and Switzerland, while RESCULA (unoprostone isopropyl ophthalmic solution) at 0.15% is sold in Japan for ocular hypertension and open-angle glaucoma.

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Sucampo Pharma has been developing VTS-270 for the treatment of a neurodegenerative disorder called Niemann-Pick Type C (NPC) and CPP-1X / sulindac for familial adenomatous polyposis (FAP) that affects the lower digestive tract.

Both drug candidates are being investigated in Phase III clinical trials and CPP-1 X / sulindac’s trial is being conducted in partnership with Cancer Prevention Pharmaceuticals.