[특징주] Medytox, intraday ceiling on news of’US Botox dispute’

(Seoul = Yonhap News) Reporter Park Won-hee = On the news that Medytox has reached an agreement between the three parties over the ban on imports of Daewoong Pharmaceutical’s botulinum toxin drug’Nabota’ (export name Jubo) from the United States, the stock price recorded an intraday high.

As of 9:41 a.m. on that day, Medytox[086900]Was traded at 197,000 won, up to the price limit (30.00%) from the previous trading day.

Earlier, Medytox and Allergan agreed with Daewoong Pharmaceutical’s U.S. partner EVOLUS on a ruling by the U.S. International Trade Commission (ITC) banning Nabota from being imported into the U.S. for 21 months.

Evolus decided to pay a total settlement of $35 million (about 38 billion won) between Medytox and Aller in two years and pay royalties according to Nabota sales.

In addition, Medytox became Ebolus’ second largest shareholder by acquiring 6762,652 shares of Ebolus common stock (16.7% stake) for 53.5 billion won.

Instead, it is expected that Daewoong Pharmaceutical’s Nabota business will resume as Evolus will be able to sell Nabota in the US. Daewoong Pharmaceutical is not a party to this agreement.

Min-Jung Seon, a researcher at Hana Financial Investment, said, “With this agreement with Ebolus, Medytox is expected to make significant profits.” We expect to receive technology fees.”

He added, “In the future, Medytox is expected to be able to sell its toxin products in the US and Europe markets through Evolus, utilizing its position as the second largest shareholder of Ebolus.”

Daewoong Pharmaceutical at the same time[069620]The stock price of is also trading at 151,000 won, up 11.03% from the previous day.

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2021/02/22 09:48 sent