Sichuan Kelun-Biotech Biopharmaceutical (HKG:6990) entered into a new transaction framework to procure R&D-related goods from China Resources Kelun (Sichuan) Medicine, according to a Jan. 16 Hong Kong bourse filing.
Shares of the biopharmaceutical firm were down over 5% in Monday's midday trade.
The agreement covers the procurement of R&D-related drugs, consumables, and fixed assets for a term ending Dec. 31, 2028.
It replaces a previous framework agreement that expired at the end of 2025.
Kelun-Biotech set annual caps of nearly 10.7 million yuan for each of 2026, 2027, and 2028, the filing showed.
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