After emerging victorious in a protracted trade secrets dispute last year, Medytox has received billions of dollars in license fees and royalty fees and bought a stake in the U.S. botulinum toxin maker Evolus, becoming its second largest stakeholder.
Medytox is set to initiate another legal battle against the Ministry of Food and Drug Safety, as the company announced Wednesday it will challenge a sales and production ban issued against its Innotox “Botox” product.
After a two-year investigation, the U.S. International Trade Commission has made a final determination in favor of Medytox in its high-profile “Botox brawl” with Daewoong Pharmaceutical.
The Ministry of Food and Drug Safety ordered Medytox to recall and destroy 50-unit, 100-unit, 150-unit and 200-unit dosages of Meditoxin, Medytox’s bestselling botulinum toxin, citing violations of the Pharmaceutical Affairs Act.
The Botox war between Medytox and Daewoong Pharmaceutical has taken an unexpected turn as the U.S. International Trade Commission (ITC) decided to partially review its initial determination in favor of Medytox.
The U.S. International Trade Commission (ITC) made an initial determination Monday. It concluded that Daewoong’s botulinum toxin product, Nabota, was made with bacteria and intellectual property stolen from Medytox.
The Ministry of Food and Drug Safety removed Medytox's sales license for its main botulinum toxin, or Botox products on Thursday. They were responsible for 42.1 percent of Medytox’s sales revenue last year.
Morgan Stanley Capital International (MSCI) released its quarterly index rebalance on Tuesday, adding Celltrion and Douzone Bizon in its Korea Index, while dropping Hyundai Development Company, Hanwha Life Insurance, OCI, Medytox and KCC ...