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THE INVESTOR] With Innotox, a liquid version of Botox, entering the third phase of clinical trials, analysts maintained “buy” ratings for the biopharmaceutical company, forecasting better performance in the second quarter.
As Allergan, a global leader that created Botox announced Aug. 9 that it will proceed to the next phase of trials for the injectable version of Botolinium toxin, developed and transferred by
Medytox, “it is time to reevaluate it,” said Lee Seung-ho, an analyst at NH Investment & Securities.
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Medytox factory in Osong |
The brokerage firm estimated the licensing to be worth 1.53 trillion won (US$1.40 billion), adding that the company also showed its strongest performance ever in the second quarter.
Eugene Investment’s Kwak Jin-hee agreed with the “buy” rating following the validation. “The value of Innotox, estimated to be worth 991 billion won, will gradually be reflected on that of the company. And the world market for Botolinium toxin and filler, another strength of Medytox, will show double digit growth by 2020,” she added.
By Hwang You-mee (
glamazon@heraldcorp.com)
