bearish
Medy Tox Inc (086900 KS): Legal Battle Continues; Muted Recovery in Export Revenue
326 Views06 Jul 2022 22:34
SUMMARY
- The U.S. International Trade Commission is starting an official investigation based on Medy Tox Inc (086900 KS)’s complaint against Hugel for the alleged theft of its botulinum toxin strain.
- The verdict is expected in H12023. Hugel is expected to receive FDA approval for botulinum toxin by the end of 2022, while Medytox plans to file to FDA in H12023.
- Medytox’s export revenue has still not recovered. However, Q1 sales jumped 25%, on the back of 89% increase in domestic revenue. Medytox shares has declined 20% YTD.
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Tina Banerjee
Global Healthcare Analyst
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