[Special Stock] Medytox Hits 52-Week Low Amid CEO's Arrest Warrant Request

Medytox's 'Medytoxyn' (Photo by Asia Economy DB)

[Asia Economy Reporter Kum Boryeong] Medytox recorded a 52-week low, falling for two consecutive days despite a rising market, following news of an arrest warrant request for its CEO.

At 9:54 a.m. on the 26th, Medytox was trading at 133,000 KRW, down 3.84% (5,200 KRW) from the previous close. During the session, the price dropped as low as 125,100 KRW, setting a new 52-week low. Medytox also closed down 13.63% the previous day.

The prosecution requested an arrest warrant yesterday for Jung Hyun-ho, CEO of Medytox, who is suspected of illegally distributing unverified drugs. The Ministry of Food and Drug Safety received a report through the Anti-Corruption and Civil Rights Commission last year alleging illegal activities during the production of 'Medytoxyn' by Medytox and launched its own investigation. At the same time, it requested an investigation by the Cheongju District Prosecutors' Office. The warrant hearing is scheduled to be held today.