RedHill Biopharma(US:RDHL) Prnewswire·2025-05-13 11:00Core Points - RedHill Biopharma Ltd. has secured a court ruling in its favor against Kukbo Co. Ltd., with a summary judgment amounting to approximately $8.25 million plus legal fees and costs [1][3] - The New York Supreme Court dismissed all counterclaims made by Kukbo, reinforcing RedHill's position in the legal dispute [1] - An attachment petition in South Korea has been granted, preventing Kukbo from disposing of its assets prior to enforcement of the judgment [1][2] Financial Implications - The summary judgment includes approximately $1.75 million in accrued interest at a rate of 9%, due to Kukbo's failure to adhere to the terms of subscription and licensing agreements [3] - Legal fees and costs are also recoverable as per the court's ruling, indicating potential additional financial recovery for RedHill [3] Legal Context - Kukbo has filed a notice of appeal against the judgment, with a six-month window to perfect its appeal, which may be extended [4] - The outcome of the appeal process could impact the enforcement of the judgment and the collection of the awarded amount [4] Company Overview - RedHill Biopharma is focused on the development and commercialization of drugs for gastrointestinal diseases, infectious diseases, and oncology [5] - The company promotes the FDA-approved drug Talicia® for treating H. pylori infection and has several late-stage clinical development programs targeting various diseases [5]