Fosun Pharmaceutical Files Arbitration Against Alis Pharmaceutical Over Cancelled Marketing Contract

MT Newswires Live10-21

Fosun Pharmaceutical (HKG:2196, SHA:600196) said it has filed an arbitration against Shanghai Alis Pharmaceutical Technology following media reports regarding a disputed marketing contract between the parties, according to a Sunday disclosure on the Shanghai Stock Exchange.

The Chinese pharmaceutical company, through subsidiary Jiangsu Fosun Pharmaceutical Sales, filed the case at the Shanghai Arbitration Commission in June, seeking 255.5 million yuan for overdue promotion service fees.

This came after Alis Pharmaceutical prematurely terminated on Nov. 30, 2023 its agreement for Fosun to exclusively market vometinib between May 1, 2022 to December 31, 2026.

Price (HKD): $14.50, Change: $+0.080, Percent Change: +0.55%

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