RedHill Biopharma (RDHL) said it has been awarded approximately $8 million, plus costs in a summary judgment by the Supreme Court of the State of New York, New York County, in its legal proceedings against Kukbo Co. The case refers to Kukbo's failure to make agreed payments to RedHill, pursuant to a Subscription Agreement, dated October 25, 2021, and a subsequent Exclusive License Agreement, dated March 14, 2022.
Kukbo has a right to seek an appeal of the judgment. RedHill plans to pursue its attorneys' fees and collection of the judgment.
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Business News
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.