Bethesda pharma company plans IPO

Wednesday, July 5, 2006

Sucampo Pharmaceuticals Inc. of Bethesda, which markets Amitiza, a drug to treat chronic constipation, has filed a registration statement with the Securities and Exchange Commission for the initial public offering of up to $86.3 million of its class A common stock. The number of shares and price range have not been determined.

Sucampo, whose parent is the Sucampo Group of Japan, also is working on drugs to treat cystic fibrosis, liver and vascular diseases, and Alzheimer’s disease. The drugs are based on prostones, which are compounds derived from functional fatty acids that occur naturally in humans.

The company said it plans to spend the proceeds on developing more uses for Amitiza, developing an ulcer drug, expanding its sales and marketing efforts and other expenses.

Lord & Taylor chain soldfor $1.2 billion

NRDC Equity Partners of Purchase, N.Y., has agreed to acquire the 48-store Lord & Taylor retail chain from Federated Department Stores of Cincinnati for $1.2 billion in cash. The transaction is anticipated to close in the third quarter of 2006.

‘‘The Lord & Taylor acquisition furthers NRDC’s strategy of acquiring great companies that have a strong brand and a valuable real estate platform,” Richard Baker, NRDC president, said in a statement. In February, NRDC acquired Linens ’n’ Things in partnership with Apollo Management LP.

NRDC is a partnership between the principals of both Apollo Real Estate Advisors LP and National Realty & Development Corp.

Federated acquired the Lord & Taylor chain in August, when it merged with May Department Stores Co.

Baker, calling Lord & Taylor ‘‘an iconic national brand for 180 years,” said NRDC will retain CEO and president Jane Elfers to continue ‘‘revitalization of the brand.”

Lord & Taylor has four locations in Maryland: Annapolis, Columbia, Gaithersburg and North Bethesda.

Ernst & Young honorsMaryland entrepreneurs

Ernst & Young LLP presented its 2006 Entrepreneur of the Year Award to the following Maryland executives in their respective category, as selected by an independent panel of judges comprising area leaders from business, academic and civic organizations:

Mark Richardson, president, Case Design⁄Remodeling Inc. of Bethesda, construction services; Michael Tessler, president and CEO of BroadSoft Inc. of Gaithersburg, emerging entrepreneur; Brad MacDonald, chairman and CEO of Medifast Inc. of Owings Mills, consumer and retail products; Gary Marino, CEO of I4 Commerce of Timonium, financial services; Fran Lesson, president of Passport Health Inc. of Baltimore, health care education and related services; Ellen Yankellow, president and CEO of Correct Rx Pharmacy Services Inc. of Linthicum, health care services; Richard Campbell, president and CEO of Icat Logistics Inc. of Baltimore, services; Jay Steinmetz, chairman of Barcoding Inc. of Baltimore, technology; and Len Stoler, president of Len Stoler Inc. of Westminster, master entrepreneur.

HMSHost lands dealfor Copenhagen Airport

HMSHost Europe, a development arm of HMSHost of Bethesda, which provides airport shopping and dining services, won a contract to develop and operate food and beverage concessions at Copenhagen (Denmark) Airport. The seven-year deal is expected to generate more than $62.7 million in sales for HMSHost.

HMSHost plans to open three restaurants at the airport next year, including Ciao, a self-service restaurant featuring Mediterranean recipes; International Coffee Concept, which offers branded gourmet coffee beverages and food; and Burger King.

Rogstad named boardchairman at Suburban

Barry K. Rogstad, Ph.D., was recently elected to a three-year term as board chairman of the Suburban Hospital Healthcare System. Dr. Rogstad succeeds Thomas A. Natelli, whose three-year term as ended in April.

Dr. Rogstad, of Potomac, became a member of Suburban’s board in 2002 after serving as an associate trustee. He was president of the American Business Conference (ABC) in Washington, D.C., from 1988 until his recent retirement. Prior to joining ABC, Dr. Rogstad served as chief economist for Coopers & Lybrand, as a managing partner at International Management Consulting and as a partner at Strategic Management Services.

He spent three years at Brown University as an instructor in economics for the University’s Department of Economics.

Dr. Rogstad received a Bachelor of Arts in history and a Master’s of Arts in economics from Clark University. He received his doctorate in economics from Brown University.

Joining Dr. Rogstad on Suburban’s Board are newly elected members Douglas S. Ingram, Ph.D., and Stanley H. Snow, both residents of Potomac.

Ingram is currently president of Ingram Group, a business management and consulting firm. Snow is an attorney who most recently served as general counsel for Trans Healthcare, Inc., and Millennium Health Services, LLC. Ingram and Snow will serve concurrently for three years on the Suburban Hospital Foundation Board of Trustees.

Send items for this column to JoAnn Grbach, 1200 Quince Orchard Blvd., Gaithersburg, MD 20878; fax to 301-670-7183; or e-mail to jgrbach@gazette.net. Listings are free and appear based on space availability.