[특징주] Medytox,’upper limit’ on news of’US Botox dispute’ agreement

[오늘경제 = 방수진 기자]

On the 22nd, the stock price went directly to the intraday high on the news that Medytox had reached an agreement between the three parties over the ban on imports of Daewoong Pharmaceutical’s botulinum toxin drug’Nabota’ (export name Jubo) to the US.

As of 10:42 am on the day, Medytox is trading at 177,600 won, up to the price limit (30.00%) from the previous trading day.

This is the effect of Medytox and Allergan’s agreement with Daewoong Pharmaceutical’s U.S. partner EVOLUS on a ruling by the U.S. International Trade Commission (ITC) to ban Nabota from being imported into the U.S. for 21 months.

Medytox announced that it will become the second largest shareholder of Ebolus by acquiring 6,762,652 shares of Ebolus common stock (16.7% stake) for 53.5 billion won.

According to this agreement, Medytox and Allergan grant Ebolus the right to sell and distribute Nabota in the United States, and Ebolus pays a total of $35 million (about 38 billion won) in installments over two years. In addition, royalties for sales will be paid between Medytox and Aller. Medytox is also planning to withdraw its California lawsuit against Ebolus.

As Ebolus can sell Nabota in the US, Daewoong Pharmaceutical’s Nabota business is expected to resume. Daewoong Pharmaceutical did not participate in 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.”

At the same time, Daewoong Pharmaceutical’s stock price is trading at 161,000 won, up 18.75% from the previous day.

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