Brief: Bioton Says China-Based Harbin Gloria Pharmaceuticals Terminates Distribution Deal

Bioton SA

19/08/2019 07:13

Aug 19 (Reuters) - Bioton S.A.  BIOP.WA :
    * SAID ON FRIDAY THAT HARBIN GLORIA PHARMACEUTICALS HAS
TERMINATED
DEAL FOR SUPPLY AND DISTRIBUTION OF BIOTON'S INSULIN PRODUCTS ON
CHINESE MARKET
    * SAID THAT HARBIN GLORIA PHARMACEUTICALS HAS CITED CHANGES
ON
CHINESE PHARMACEUTICAL MARKET AS REASON FOR TERMINATION OF DEAL 
    * HARBIN GLORIA PHARMACEUTICALS ALSO SAID THAT IT WAS UNABLE
TO
MEET THE SALES FORECASTS AGREED IN DEAL
    * DEAL WILL BE AUTOMATICALLY TERMINATED AFTER 6 MONTHS 
    * SAID THAT FOR A LONG TIME THERE HAVE BEEN PROBLEMS WITH
IMPLEMENTATION OF DEAL BY HARBIN GLORIA PHARMACEUTICALS 
    * SAID THIS SITUATION WAS REFLECTED IN FINANCIAL STATEMENTS
OF
COMPANY IN 2018 AND WILL AFFECT ITS RESULTS IN 2019

    
 Source text for Eikon:  urn:newsml:reuters.com:*:nEMbQZPHFa
    
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