Daewoong Pharmaceutical said Wednesday its Nabota botulinum toxin demonstrated statistically meaningful results in Phase 3 trials in China, signaling an imminent entry to the market, the second largest botulinum toxin market in the world.
Wrinkle-beating “Boxtox” has been the domain of mid-sized companies. That is about to change as Hugel, Korea’s largest manufacturer of botulinum toxin, popularly known by the Botox brand name, is in play.
Bio pharmaceutical company Huons Group received in investment 155.4 billion won ($137.2 million) from China’s Imeik Technology in exchange for a 25.4 percent stake in Huons BioPharma.
The settlement is part of a years-long feud between Medytox and Daewoong Pharmaceutical — two of the top three Korean manufacturers of botulinum toxin, more commonly known as "Botox."
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 won its botox war in the United States against Daewoong Pharmaceutical -- with some help from Donald Trump and Joe Biden.
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.
Biopharmaceutical company Hugel has started exporting its botulinum toxin to China on Wednesday — the first among Korea’s “Botox” manufacturers to do so.
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.