TYK MEDICINES-B (02410.HK): Initiates Litigation over Disputed TY-9591 Cooperation Agreement and Takes Legal Proceedings against Sichuan Huayu
NewTimeSpace News: TYK Medicines，Ltd. (02410.HK) announced that it has filed a lawsuit with Changxing County People’s Court and commenced legal proceedings against Sichuan Huayu Pharmaceutical. The Company seeks judicial confirmation that the purported TY-9591 cooperation agreement and distribution agreement entered into with Huayu are not established and void. Meanwhile, the Company has received a case acceptance notice from Neijiang Shizhong District People’s Court in relation to a parallel claim initiated by Huayu. Both cases have been registered and are pending trial.
NewTimeSpace News: On 22 July 2026, TYK Medicines, Ltd. (02410.HK) issued an announcement. The Company recently filed a case before Changxing County People’s Court and instituted legal proceedings against Sichuan Huayu Pharmaceutical Co., Ltd. The Company applies to the court for judicial confirmation that the alleged TY-9591 cooperation agreement and distribution agreement purportedly concluded with Huayu have not come into existence and are invalid.
Separately, the Company has received a case acceptance notice issued by Neijiang Shizhong District People’s Court. The proceeding was brought by Huayu in connection with the same purported cooperation agreement, distribution agreement and related documents. Both matters have been registered by the courts and are yet to be heard.
The Board has taken legal advice on the relevant proceedings. Based on preliminary consultation with its PRC legal counsel, the Board considers that the Company has reasonable grounds to challenge the formation and validity of the purported cooperation and distribution agreements to support its position. The Company intends to take all necessary measures to safeguard its legitimate rights and interests.
As at the date of the announcement, the legal proceedings have not exerted any material adverse impact on the Group’s overall business, operations or cash flow. The Group’s business and operations remain normal.
NewTimeSpace Disclaimer: All content herein is the original work of NewTimeSpace. Any reproduction, reprinting, or use of this content in any other manner must clearly indicate the source as "NewTimeSpace". NewTimeSpace and its authorized third-party information providers strive to ensure the accuracy and reliability of the data, but do not guarantee the absolute correctness thereof. This content is for reference only and does not constitute any investment advice. All transaction risks shall be borne by the user.
Tags：
