Luoxin, Yuhan fail to complete deal for NSCLC therapy

Shandong Luoxin Pharmaceutical Group Stock Co. Ltd. (HKSE:8058) said it was unable to complete a deal with Yuhan Corp. (KSE:000100) that would have granted Luoxin rights to YH25448, which is in preclinical testing to treat non-small cell lung cancer. In July 2016, the companies entered a term sheet to negotiate for the candidate's rights.

In a statement last week, Luoxin said that Yuhan "wrongly blamed" the potential deal's unraveling on Luoxin’s “failure to perform its obligations” under the term sheet. Luoxin said it had “performed all of its obligations” and made efforts to extend the negotiations past their planned expiration...