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Latest From Medytox Inc.
Hugel says its longer-term global growth strategy will remain intact after a major acquisition of the Korean medical aesthetics company by a consortium including GS Group.
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.
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