Saturday, September 6, 2025
  • Login
Forbes 40under40
  • Home
  • Technology
  • Innovation
  • Real Estate
  • Leadership
  • Money
  • Lifestyle
No Result
View All Result
  • Home
  • Technology
  • Innovation
  • Real Estate
  • Leadership
  • Money
  • Lifestyle
No Result
View All Result
Forbes 40under40
No Result
View All Result
Home Lifestyle

Singaporean Huang Zhenhua’s assets frozen over US$830 million suit by drug giant Novo

by Mark Darwin
in Lifestyle
Singaporean Huang Zhenhua’s assets frozen over US0 million suit by drug giant Novo
Share on FacebookShare on Twitter


Novo Nordisk is seeking as much as US$830 million in damages in a Singapore court, saying that it was misled by a local biotech firm about the effectiveness of an experimental hypertension drug. 

KBP Biosciences and its founder led the Danish drugmaker to believe they had “developed a new and effective drug to treat hypertension and kidney disease”, according to a ruling the court made public this week.  

Novo bought the medicine, called ocedurenone, from closely held KBP Biosciences for as much as US$1.3 billion in late 2023. Less than a year later, it halted a clinical trial because the treatment was not working and announced an impairment loss of about US$800 million. 

Singapore’s International Commercial Court agreed to freeze the company’s assets and those of founder Huang Zhenhua, according to the ruling. Novo is launching legal proceedings against KBP in New York, the court said. 

KBP “failed to disclose material information” including interim analyses of clinical trial results, the judge said. Huang “arguably knew and participated in these misrepresentations”.

The company did not immediately respond to a request for comment. BLOOMBERG

Share with us your feedback on BT’s products and services

Tags: AssetsDrugFrozenGiantHuangMillionNovoSingaporeanSuitUS830Zhenhuas
Mark Darwin

Mark Darwin

Next Post
Apple to launch new lower-cost iPhone to capture a broader market

Apple to launch new lower-cost iPhone to capture a broader market

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Forbes 40under40 stands as a distinguished platform revered for its commitment to honoring and applauding the remarkable achievements of exceptional individuals who have yet to reach the age of 40. This esteemed initiative serves as a beacon of inspiration, spotlighting trailblazers across various industries and domains, showcasing their innovation, leadership, and impact on a global scale.

 
 
 
 

NEWS

  • Forbes Magazine
  • Technology
  • Innovation
  • Money
  • Leadership
  • Real Estate
  • Lifestyle
Instagram Facebook Youtube

© 2025 Forbes 40under40. All Rights Reserved.

  • About Us
  • Advertise
  • Contact Us
No Result
View All Result
  • Home
  • Technology
  • Innovation
  • Real Estate
  • Leadership
  • Money
  • Lifestyle

© 2024 Forbes 40under40. All Rights Reserved.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In