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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