Zhi Tong Cai Jing·2025-12-05 14:45Core Viewpoint - Shanghai Pharmaceuticals has terminated its cooperation agreement with Guizhou Shengnuo Biotech regarding the X842 project, leading to the return of a 110 million yuan upfront payment and associated fees [1][2]. Group 1: Agreement Details - On October 8, 2021, Shanghai Pharmaceuticals' subsidiary, Shanghai Shiyu, signed a cooperation agreement with Guizhou Shengnuo for the production and sales of the new acid suppressant X842, granting exclusive rights in China, including Hong Kong, Macau, and Taiwan [1]. - The termination agreement was signed after a comprehensive market assessment and mutual discussions, with the original agreement remaining effective until the termination agreement takes effect [1]. Group 2: Financial Terms - The termination agreement stipulates that Guizhou Shengnuo must return the 110 million yuan upfront payment and development milestone fees to Shanghai Shiyu within 45 working days after the agreement takes effect, along with an annualized interest of 3% on the funds [2]. - On December 5, 2025, Shanghai Shiyu received the 110 million yuan payment, leading to the automatic termination of the original cooperation agreement, which no longer holds legal binding force [2].