China NT Pharma Group (HKG:1011) has terminated a memorandum of understanding for potential cooperation with Shanxi Ningle Pharmaceutical Logistics related to the former's products and services in the orthopedics field, a Monday Hong Kong bourse filing said.
The move came about as the company believes the "credibility of the information and financial data provided by Shanxi Ningle Pharmaceutical Logistics is doubtful."
The parties had entered into the non-legally binding MOU in July this year.
Shares of the drugmaker closed nearly 8% lower on Tuesday.
Price (HKD): $0.25, Change: $-0.020, Percent Change: -7.55%
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