Kyungbo Pharmaceutical announced on July 9 that its request for a stay of execution regarding the cancellation of certain prescription drug licenses has been granted.
Previously, Kyungbo Pharmaceutical received a license cancellation order for some products due to violations of the Pharmaceutical Affairs Act. The issues included conducting business activities during a suspension period and violating sales bans on identical pharmaceuticals.
As of last year, the sales of the products subject to the business suspension amounted to approximately 13.483 billion KRW. This represents 5.65% of the company's total sales.
Kyungbo Pharmaceutical submitted a complaint and an application for a stay of execution regarding the license cancellation to the court, and on this day, the court granted the stay of execution.
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