Asia
TYK Medicines Challenges TY-9591 Cooperation Agreement in Court; Shares Fall 4%
TYK Medicines (HKG:2410) has filed legal proceedings seeking a court ruling that purported cooperation and distribution agreements with Sichuan Huiyu Pharmaceutical relating to TY-9591 were never formed and are invalid.Huiyu has also filed a separate case involving the same agreements with the People's Court of Neijiang City's Shizhong District, according to a Hong Kong bourse filing on Wednesday. Both cases have been accepted by the courts but have not yet been heard.TYK said the litigation has not materially affected its business, operations or cash flow.Shares of TYK fell nearly 4% in recent trade.
HKG:2410
