This undated photo shows the headquarters of Medytox Inc. (Yonhap)
SEOUL, April 1 (Korea Bizwire) — South Korean drugmaker Medytox Inc. said Friday it has filed a complaint with a U.S. trade panel against domestic rival botox maker Hugel Inc. over a botulinum toxin strain.
The complaint lodged with the U.S. International Trade Commission (ITC) targets top South Korean botox maker Hugel, its U.S. and European partner Croma-Pharma GmbH, and Hugel America, a joint venture between Hugel and Croma-Pharma GmbH.
“Hugel has developed and produced a botulinum toxin product by misappropriating trade secrets belonging to Medytox and is trying to export the drug to the U.S.,” Medytox said in the complaint.
Medytox claimed the ITC should launch an investigation into Hugel’s illegal act and impose a ban on imports of Hugel’s botulinum toxin product.
Medytox also requested the U.S. trade panel prohibit sales of Hugel’s imported products in the world’s largest economy, and stop its advertisement and marketing activities in the U.S.
“We will mobilize all legal and other means to protect our intellectual property rights in an effort to maximize corporate and shareholder value,” Medytox CEO Jung Hyun-ho said.
Hugel dismissed Medytox’s claim as groundless, saying it will take strong legal action against the “unreasonable” complaint with the ITC.
“Medytox’s filing of the complaint is based on a fake allegation. We will deal squarely with any act that seriously infringes upon the industry’s development and national interest,” Hugel said in a statement.
(Yonhap)
