What happened
DAE HWA Pharm updated a previously disclosed supply contract, now worth US$8.66M, about 8.59% of its recent annual revenue, running through Oct 2026.
For context, this single contract equals about 8.59% of the company's most recent annual revenue.
| Counterparty | Disclosed |
|---|---|
| Contract value | US$8.66M |
| vs. recent revenue | 8.59% |
| Through | Oct 2026 (from Oct 2016) |
| Filed | 2026-09-18, [Amended] Supply contract terminated |
| Source | DART rcept 20260918900398 → open original filing |
Versions of this filing
- 2026-09-14Original
- 2026-09-18Amendment 1 (this page)
Read the full filing in English
Dae Hwa Pharmaceutical Co., Ltd. / Termination of Exclusive Sales and Supply Agreement / (2026.09.18) Correction Filing for Termination of Exclusive Sales and Supply Agreement
Correction Filing Date: 2026-09-18
1. Disclosure Document Subject to Correction Termination of Exclusive Sales and Supply Agreement
2. Submission Date of Disclosure Document Subject to Correction 2026-09-14
3. Reason for Correction Correction of principal reasons for termination, termination date, and other matters for investment consideration, reflecting facts related to the counterparty to the contract.
4. Correction Details Correction Item | Before Correction | After Correction [Details of specific corrections to be filled in]
5. Principal Reasons for Termination - Considering that no product supply or sales performance has occurred under this contract and the company is currently unable to contact the counterparty, the company decided to terminate the contractual relationship and sent a contract termination notice to the counterparty. - After the counterparty was acquired by a third party, the company inquired of the counterparty whether the existing contract had been transferred to the acquiring company. The company received a response indicating that the contract was not transferred to the acquiring company.
6. Termination Date 2026-09-14 (corrected from 2023-10-10)
8. Other Matters for Investment Consideration 5. Considering that no product supply or sales performance has occurred under this contract and the company is currently unable to contact the counterparty, the company decided to terminate the contractual relationship and sent a contract termination notice to the counterparty. 6. The termination date above is the date on which the company sent the contract termination notice to the counterparty. 5. After the counterparty was acquired by a third party, the company inquired of the counterparty to confirm whether the existing contract had been transferred to the acquiring company. On October 10, 2023, the company received a response indicating that the contract was not transferred to the acquiring company. 6. This correction filing corrects the termination date to reflect the date of receipt of the response above.
---
Exclusive Sales and Supply Agreement Termination
1. Content of Sales and Supply Agreement Termination Exclusive sales and supply agreement for finished pharmaceutical products in 11 countries in the GCC (Gulf Cooperation Council) and MENA (Middle East and North Africa) regions.
2. Termination Details Termination Amount (KRW): 11,942,752,371 Most Recent Sales (KRW): 139,079,924,912 Ratio to Sales (%): 8.59
3. Counterparty to Contract NOVOSCI (United Arab Emirates) - Relationship with the Company: -
4. Contract Period Start Date: 2016-10-12 End Date: 2026-10-11
5. Principal Reasons for Termination - After the counterparty was acquired by a third party, the company inquired of the counterparty whether the existing contract had been transferred to the acquiring company. The company received a response indicating that the contract was not transferred to the acquiring company.
6. Termination Date 2023-10-10
7. Disclosure Withholding Withholding Reason: - Withholding Period: -
8. Other Matters for Investment Consideration 1. This matter concerns the termination of an exclusive sales and supply agreement for finished pharmaceutical products in 11 countries in the GCC (Gulf Cooperation Council) and MENA (Middle East and North Africa) regions, which was initially disclosed on October 12, 2016, and was corrected on October 6, 2021, due to changes in sales products, contract period, and contract amount. 2. The termination amount above was prepared based on the contract amount of KRW 11,942,752,371 (USD 10,059,596) stated in the correction filing dated October 6, 2021. The exchange rate applied for KRW conversion at that time was the base rate on October 5, 2021 (1,187.2 KRW/USD). 3. The most recent sales amount above is based on the consolidated financial statements for the 2015 business year as stated in the initial disclosure (2016). The ratio to sales was calculated based on this most recent sales amount. 4. The two products subject to the 2021 correction filing were scheduled to be supplied after obtaining local approval in 11 countries in the GCC and MENA regions, including Saudi Arabia. There has been no supply or sales performance under this contract for these products. 5. After the counterparty was acquired by a third party, the company inquired of the counterparty to confirm whether the existing contract had been transferred to the acquiring company. On October 10, 2023, the company received a response indicating that the contract was not transferred to the acquiring company. 6. This correction filing corrects the termination date to reflect the date of receipt of the response above.
Related Disclosures: 2016-10-12 Execution of Exclusive Sales and Supply Agreement 2021-10-06 Execution of Exclusive Sales and Supply Agreement
Source: DART. Information only, not investment advice.