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%

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment