Cansino (688185.SH) issued an announcement. The company recently received the 3ª Vara Civel d...
Zhitong Financial App News, Cansino (688185.SH) issued an announcement. The company recently received Belcher Farmaceutica Ltda from 3ª Vara Civel de Maringa/PR (hereinafter referred to as the “Brazilian Court”). (hereinafter referred to as “Belcher”) Petitions, case filing notices, and other relevant materials to file a lawsuit against the company.
The main circumstances of the relevant case are: In order to help establish a global COVID-19 prevention barrier, the company plans to submit an application for emergency use of the recombinant novel coronavirus vaccine (adenovirus type 5 vector) (hereinafter referred to as “COVID-19 vaccine”) to the Brazilian National Health Surveillance Agency (ANVISA) in 2021. To this end, the company issued a “LETTER OF AUTHORIZATION” (hereinafter referred to as the “Letter of Authorization”) to Belcher on April 19, 2021, authorized Belcher to represent the company and local government agencies in Brazil regarding the COVID-19 vaccine Registration and commercialization carry out necessary negotiations and are valid for 6 months (unless the company withdraws the authorization in advance). Other than the “Letter of Authorization”, the company and Belcher have not signed any other written agreement. However, due to the fact that the important conditions for cooperation between the company and Belcher were not met in a timely manner, the company sent “NOTICE OF REVOCATION OF LETTER OF AUTHORIZATION” (hereinafter referred to as “Notice of Revocation of Authorization Letter”) to Belcher on June 10, 2021, which clearly stated that the “Notice of Withdrawal of Authorization Letter” took effect immediately on the day it was issued.
As of the disclosure date of this announcement, the company's COVID-19 vaccine has not been authorized for emergency use in Brazil, has not sold anything in Brazil, and has not received any sales revenue from Brazil.
In the incident involved in the above case, the plaintiff requested that the company be ordered to pay Belcher a total of about R$167 million (approximately RMB 241 million) in compensation for loss of earnings and moral damages; the order was that the company bear all rights protection costs, such as case handling fees and attorney fees.
According to the announcement, after sorting through and preliminary analysis of the circumstances of the case, the company believes that the company has withdrawn its license to Belcher and has not signed any other written agreement with Belcher. The company has a strong defensive position, and the lawsuit will not have a significant impact on the company's daily production and operation.