Medytox requests suspension to halt of Meditoxin sales

Medytox, Korea’s largest botulinum toxin maker by market share, said Monday that it has submitted a request for suspension of execution on the Drug Ministry’s order to halt manufacturing and sales of its cash cow Meditoxin.

While apologizing to customers and investors for causing concern, Medytox argued that the ministry’s order was based on dated findings, and there were no reports of Meditoxin products causing severe adverse effects in the 20 years it has been on the market. The company said it has filed a suit to suspend and recant the ministry’s order with the Daejeon District Court.

On Friday, the local drug authority suspended manufacture and sales of Meditoxin 50 unit, 100 unit and 150 unit products, based on Article 71 of the Pharmaceutical Act that bans the use of unapproved ingredients in pharmaceutical products.

The Meditoxin products that the Drug Ministry and prosecutors are investigating are those manufactured between December 2012 and June 2015. The products currently being distributed in the market are manufactured after April 2017, Medytox said.

The company passed the authority’s randomized inspections of its products in 2016 and 2018, according to Medytox.

In the meantime, while Meditoxin sales are temporarily suspended the company will make up for the loss through increased sales of Innotox and Coretox, Medytox said.

By Lim Jeong-yeo (kaylalim@heraldcorp.com)