[Special Stock] Daewoong Pharmaceutical Shows Strength Despite Botox Dispute Loss

[Asia Economy Reporter Lee Junhyung] Daewoong Pharmaceutical's stock price is on the rise. Although a sharp decline was expected following the loss in the 'Botox dispute' with Medytox, the reversal of the preliminary ruling by the U.S. International Trade Commission (ITC) and the significant reduction of the import ban period from 10 years to 21 months appear to have influenced the positive movement.

As of 10:24 AM on the 17th, Daewoong Pharmaceutical was trading at 154,000 KRW, up 14.44% from the previous trading day. During the session, it even surged to 160,500 KRW, an 18.88% increase from the previous day. Although the ITC ruled in favor of Medytox in the Botox dispute, the news that the import ban period on Daewoong Pharmaceutical's botulinum toxin product 'Nabota' was drastically reduced to 21 months acted as a positive factor.

On the 16th (local time), the ITC issued a final ruling on the trade secret infringement lawsuit between Daewoong Pharmaceutical and Medytox regarding the botulinum strain, stating that "Nabota violated Section 337 of the Tariff Act," thereby siding with Medytox. However, Medytox's claim that trade secrets existed in the botulinum strain was not recognized, resulting in the import ban period on Nabota being reduced from 10 years to 21 months.

Daewoong Pharmaceutical considers the reduction of the import ban period as a de facto victory. Additionally, the company plans to immediately file for a provisional injunction to suspend the enforcement of the ITC's import ban order.