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.
South Korean pharma and biotech companies are opting to spin off certain businesses and set up new subsidiaries to speed up R&D progress and tap funding opportunities. The move, which has become more visible in the past few years is in line with global biopharma trends, although the reasons may vary.
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