![[인사이트] Daewoong Pharmaceutical’s cash cow ‘Nabota’ sales ban… Hugel, Huons worried, why?](http://www.infostockdaily.co.kr/news/thumbnail/202302/189155_170581_3339_v150.jpg "[인사이트] Daewoong Pharmaceutical’s cash cow ‘Nabota’ sales ban… Hugel, Huons worried, why?")
Judge “Compensation for damages of 40 billion won and ban on manufacturing and selling Nabota”
Daewoong Pharmaceutical “There will be no problems with exports to the US and Europe”
Hugel “There is no effect from the Medytox-Daewoong Pharmaceutical lawsuit”
[인포스탁데일리=김영택 기자] Medytox won a lawsuit against Daewoong Pharmaceutical over botulinum toxin (botox). This is the first ruling in six years since the lawsuit was filed.
The sale of Daewoong Pharmaceutical’s cash cow, botox ‘Nabota’, is completely banned, and strains and pre-production are strategically discarded.
In this situation, Hugel, the No. 1 botulinum toxin market, seems to be sensitive to the Botox theft ruling.
Hugel and Medytox are in a botox-related lawsuit in the United States, so they are closely watching the situation to see if this ruling will affect their lawsuits.
Along with this, there is an analysis that a change in perception of the domestic botox market is inevitable.
◇ Court “Compensation for damages of 40 billion won and ban on manufacturing and selling Nabota”
According to the industry on the 14th, the 61st Civil Division of the Seoul Central District Court (Chief Judge Kwon Oh-seok) recently ruled that “Defendant Daewoong Pharmaceutical stole Medytox’s own strains and trade secrets from the manufacturing process.”
In response, the court ordered Daewoong Pharmaceutical to pay 40 billion won in damages and to ban the manufacture and sale of its Botox brand, Nabota. In addition, it ordered Daewoong Pharmaceutical to dispose of the botox strain and discard the existing formulation strategy.
Daewoong Pharmaceutical’s stock price plummeted on the news. Daewoong Pharmaceutical’s stock price plunged 19.35% from the previous day to close at 124,200 won on the 10th due to a different decision from the acquittal in the criminal case in February of last year.
Choi Yang-oh, head of the ISD Corporate Policy Research Institute, said, “Nabota accounts for only 5.3% of Daewoong Pharmaceutical’s total sales, but Nabota’s business value cannot be converted into simple economics.” The growth value is also high,” he said.
◇ Daewoong Pharmaceutical “There will be no problems with exports to the US and Europe”
It is known that Daewoong Pharmaceutical is planning to apply to the court for suspension of enforcement. Medytox is also expected to apply for provisional execution.
The key point is that if the court accepts Daewoong Pharmaceutical’s application for suspension of enforcement, there is a high possibility that there will be no significant impact on the manufacturing and sales of Nabota at home and abroad.
In addition, Daewoong Pharmaceutical is said to have a policy to submit approval documents related to the Chinese business in March as scheduled.
Industry analysts say that even if the court does not accept Daewoong Pharmaceutical’s application for suspension of enforcement, Nabota sold in the US through Evolus will proceed normally.
Daewoong Pharmaceutical is also emphasizing that there will be no problems with exports of Nabota to the US and Europe.
Currently, Evolus accounts for about 57% of Daewoong Pharmaceutical’s total Nabota exports.
Lee Myeong-seon, a researcher at DB Financial Investment, said, “Evolus, an overseas sales partner of Daewoong Pharmaceutical’s Nabota, signed a contract with Medytox to sell Jubo (US product name) and Nusiva produced by Daewoong Pharmaceutical regardless of the domestic lawsuit between Medytox and Daewoong Pharmaceutical. We distributed data that there is no problem in receiving and selling (Europe).”
◇ Huons “There is no effect from the result of the lawsuit between Medytox and Daewoong Pharmaceutical”
Huons Biopharma, which runs the botulinum toxin business in Hugel and Huons Group, which is the No.
Hugel claims that the outcome of the lawsuit between Medytox and Daewoong Pharmaceutical will not have any impact on the ongoing lawsuit between Medytox and Hugel in the United States.
Previously, Medytox filed a complaint against Hugel to the US International Trade Commission (ITC) in March of last year regarding the theft of strains and manufacturing processes.
Therefore, in the case of Hugel, it was inevitable to keep a close eye on the recent rulings of Medytox and Daewoong Pharmaceutical. This is because it is judged that it can affect future disputes in the United States.
Hugel said, “The lawsuit between Medytox and Daewoong Pharmaceutical is a dispute that has nothing to do with the company.”
Choi Yang-oh, head of the ISD Corporate Policy Research Institute, said, “Meditox, Daewoong Pharmaceutical, Hugel, Huons, etc. are intertwined over the theft of Botox, so there is a high possibility that the Botox market at home and abroad will be reorganized in the future depending on the results of lawsuits and disputes.”
Reporter Kim Young-taek [email protected]
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