Yahong Pharmaceutical announced that it recently received an arbitration application from the American Arbitration Association. The claimant Photocure believes that the company has not paid the full milestone amount as agreed, and requested that Yahong pay 4.4 million US dollars, interest, and bear the costs associated with the arbitration. As of the date of disclosure of the announcement, arbitration has been accepted, but proceedings have not yet commenced. The dispute did not substantially hinder the cooperation and normal operation of the company and Photocure, and the final impact is subject to the arbitration results. The company will hire lawyers to respond positively and disclose progress in accordance with regulations.
Zhitongcaijing · 1d ago
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Yahong Pharmaceutical announced that it recently received an arbitration application from the American Arbitration Association. The claimant Photocure believes that the company has not paid the full milestone amount as agreed, and requested that Yahong pay 4.4 million US dollars, interest, and bear the costs associated with the arbitration. As of the date of disclosure of the announcement, arbitration has been accepted, but proceedings have not yet commenced. The dispute did not substantially hinder the cooperation and normal operation of the company and Photocure, and the final impact is subject to the arbitration results. The company will hire lawyers to respond positively and disclose progress in accordance with regulations.
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