Endless Botox war...Medytox filed another lawsuits in USA
Endless Botox war...Medytox filed another lawsuits in USA
  • 이지선 기자
  • 승인 2021.05.18 08:42
  • 최종수정 2021.05.18 03:29
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The "Botulinum Toxin Drug (Botox) War" between Medytox and Daewoong Pharmaceutical is showing no signs of ending.

When Medytox filed new lawsuits against Daewoong Pharmaceutical in the United States, Daewoong Pharmaceutical responded, "Their action is pathetic and irresponsible.".

Meanwhile, Medytox saw its net profit surge in the first quarter of this year as it received 76.8 billion won for a lawsuit settlement from Evolus, a U.S. partner of Daewoong Pharmaceutical Co.

Medytox said on the 17th that it has filed two additional lawsuits in the U.S. against U.S. partner Aeon Bio Pharma of Daewoong, Daewoong Pharmaceutical and Daewoong Pharmaceutical.

Aeon Biopharma is a partner company with the right to license, import and sell Daewoong Pharmaceutical's botulinum toxin drug "Nabota" for treatment purposes in the U.S. and other countries.

Medytox claimed that it filed a lawsuit with the California Central District Court to stop Daewoong Pharmaceutical and Aeon Biopharma from selling products by disregarding the U.S. International Trade Commission (ITC)'s decision.

Earlier in December last year, ITC banned Nabota's import and sales in the U.S. for 21 months, believing that Daewoong Pharmaceutical violated the trade secret of Medytox's botulinum manufacturing process.

However, its partner Evolus, which has selling rights for Daewoong Pharmaceutical's Nabota, resumed sales of Nabota on the condition of signing a contract with Medytox to pay a settlement and royalties.

The lawsuits between the two companies also affected their performance. Medytox's net profit in the first quarter was 55 billion won, up 1001.6% from the same period last year (-6.1 billion won). It was crucial that 76.8 billion won was paid for the settlement of the Ebola lawsuit and the granting of license. Sales and operating profit were 31.8 billion won and -4.4 billion won, down 6.2% year-on-year and a deficit of 55.6%.

Reporter Lee Ji-sun stockmk2020@gmail.com


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