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Latest From Medytox Inc.
The USITC has issued a final determination in the long-running botulinum toxin dispute between Daewoong and Medytox, sharply cutting the length of Daewoong’s product import ban and reversing its initial decision with respect to Medytox’s bacterial strain. But the dispute seems poised to continue as Daewoong vows further legal steps.
USITC’s initial decision in the Medytox and Daewoong botulinum dispute is favorable to Medytox and poised to take a toll on the Korean firm and partner Evolus as they face a 10-year ban on imports of their product to the US.
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.
Leading South Korean botulinum toxin company Medytox is facing substantial business risk as its Meditoxin product is suspended amid test result manipulation investigations.
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