Daewoong Pharmaceutical Botox dispute for two days 57 ↑

Daewoong Pharmaceutical’s share price rose on the 18th, when the US International Trade Commission (ITC) ruled on the loss of Daewoong Pharmaceutical in a lawsuit for infringing trade secrets against botulinum strains.

On the stock market on this day, Daewoong Pharmaceutical ended up trading at 212,000 won, an increase of 20.80% from the previous day.

The day before, Daewoong Pharmaceutical ended with an upper limit that was raised to the price limit (30.00%).

Over the two days, the stock price jumped a whopping 57.04%.

Daewoong Pharmaceutical is in the form of a strong increase day over day due to the resolution of the uncertainty in demand and a more relaxed decision than expected.

In a lawsuit filed by Medytox against Daewoong Pharmaceutical in January last year, alleging that the US ITC stole its strain and technical documents from the manufacturing process on the 16th (local time), Daewoong Pharmaceutical’s botulinum toxin drug ‘Nabota’ He was brought to the United States for 21 months. The final rule was that importation was prohibited.

This decision was based on the decision that the botulinum strain was not a trade secret, and the import ban period was significantly shorter than the preliminary ruling recommending a 10-year import ban from Nabota in July. .

Furthermore, expectations of a new coronavirus infection treatment (Corona 19) being developed by Daewoong Pharmaceutical are also driving up the share price day after day.

The day before, Daewoong Pharmaceutical announced that the phase 2 clinical trial of Hoy Star Tablet, which is being developed as a treatment for Corona 19, will be switched to a 2/3 clinical trial.

Therefore, rapid investigation in patients on a large scale became possible.

Meanwhile, Medytox, which filed an ITC lawsuit with Daewoong Pharmaceutical, ended at 195,000 won, down 4.36% from the previous day.

Medytox announced that it will pursue an ongoing lawsuit in Korea based on the final US ITC ruling.

In 2017, Medytox filed a civil lawsuit with the Seoul Central District Court in 2017, alleging that Daewoong Pharmaceutical had stolen its own botulinum strain and the manufacturing process, which is a trade secret.

Daewoong Pharmaceutical is in a position to continue expanding Nabota’s global business in the future, as it determined that the strain was not a trade secret in the ITC’s final judgment.

Seon Min-jung, a researcher at Hana Financial Investment, said: “The final decision of the ITC may affect various litigation carried out by the two companies” and “appears to have an effect on the entire investigation of botulinum strains by the Administration. of Disease Prevention and Control of Korea “.

/ yunhap news

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