Korea Botox Rivalry To Intensify After Meditoxin Measures
Punitive Steps To Impact Market
As South Korea’s drug ministry decides to rescind approval of Medytox’s botulinum toxin product following manipulation of manufacturing and quality control documents, competition among existing rivals and newcomers is expected to further intensify.
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Leading South Korean botulinum toxin company Medytox is facing substantial business risk as its Meditoxin product is suspended amid test result manipulation investigations.
Korean venture Helixmith faces another setback following a missed Phase III endpoint for its plasmid DNA neuropathy candidate, with its shares plunging after it warned of a possible delay in a planned rights offering, amid concerns from minority shareholders over other investment losses.
Following last year’s license pact with Arvelle in Europe and a US launch earlier this year, SK Biopharmaceuticals’ sizable deal with Ono now paves the way for the South Korean company to enter the Japanese market and further expand antiepileptic cenobamate’s global presence.