Sigma Healthcare is dropping legal proceedings against My Chemist/ Chemist Warehouse Group over an alleged breach of a supply agreement, after the two parties agreed to enter formal negotiations to resolve the dispute.
The pharmaceuticals company said if a commercial resolution is not reached the parties have agreed to confidential and binding mediation and arbitration.
Sigma commenced legal proceedings after alleging in May that the My Chemist/ Chemist Warehouse Group was looking to obtain certain products from another wholesaler, in breach of the existing supply agreement, sparking a slide in Sigma shares.
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