Company: OSRH
Filing Date: 2025-04-22
Form Type: 10-K
Source: 0001213900-25-034116
Chunk: 339

Company: OSR Holdings, Inc.
Filing Date: 2025-04-22
Form: 10-K
Item: Item 1A
Chunk 339
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 director, and will make decisions on behalf of one entity that may negatively impact others.
In addition, disputes could arise between us and our subsidiaries’ other directors, officers and stockholders regarding a conflict
of interest. Those stockholders also may disagree with the amount and quality of resources that we devote to the subsidiary in which they
are invested. Any such disputes or disagreements could lead to claims, and potential damages, of breach of fiduciary duties, and distract
our management, interfere with our relations with those stockholders, and take significant time to resolve. Those issues could disrupt
the development of our product candidates, delay our potential commercialization efforts, result in increased costs or make it less likely
that other third parties will choose to partner with us in the future.

Our employees, independent contractors, consultants, and partners
may engage in misconduct or other improper activities, including noncompliance with regulatory standards and requirements.

We face the potential risk of encountering fraudulent activities, misconduct,
or other unlawful behaviors involving our employees, independent contractors, consultants, commercial partners, and vendors. This misconduct
could encompass intentional, reckless, or negligent actions that result in failure to: adhere to the regulations of the FDA or similar
foreign regulatory bodies; provide accurate and complete information to the FDA and equivalent foreign regulatory authorities; adhere
to the manufacturing standards we have established; comply with healthcare fraud and abuse laws in the United States and similar
fraudulent misconduct laws in other countries; adhere to applicable privacy and data security laws in the United States and in other
countries; or accurately report financial information or disclose unauthorized activities.

Risks Related to International Operations of the Company’s
Business

The following risk factors reference the risks and uncertainties
relating to the international operations of OSR, which, following the closing of the Business Combination, will be the international operations
of the Company. References in this section to “we,” “us,” and “our” refer to OSR prior to the closing
of the Business Combination and to the Company after closing.

53

If political and economic conditions in South Korea deteriorate,
our current business and future growth could be materially and adversely affected.

OSR is headquartered in the Republic of Korea (“Korea”)
and significant operations and assets are located in Korea. There is currently a high level of political unrest occurring in Korea. As
a result, we are subject to political, economic, legal and regulatory risks specific to Korea, and our performance and successful fulfilment
of our operational strategies are dependent