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Hugel |
[Alpha Biz= Reporter Kim Jisun] Hugel won the botulinum toxin lawsuit against Medytox in the United States.
On June 10th (local time), the United States International Trade Commission (USITC) concluded that Hugel's botulinum toxin product, "Letibot" (known domestically as "Botulax"), did not violate the Tariff Act.
Regarding the lawsuit, the ITC made a preliminary ruling stating that "no violation of Section 337 of the Tariff Act of 1930 was found concerning certain botulinum toxin products and manufacturing processes imported into the United States."
Section 337 of the Tariff Act involves investigations by the USITC into unfair import practices, including issues related to intellectual property rights such as patent and trademark infringement. Depending on the investigation results, customs authorities can be ordered to halt the import of the concerned goods into the United States.
Hugel and Medytox have been engaged in a dispute over Letibot at the ITC since March 2022. The final ruling is expected on October 10th.
Given the ITC's determination that there were no issues with Letibot in this lawsuit, Hugel's efforts to penetrate the U.S. botulinum toxin market are expected to gain momentum.
In March, Hugel received approval from the U.S. Food and Drug Administration (FDA) for its botulinum toxin product Letibot. With this approval, Hugel became the first Korean company to enter the U.S., Chinese, and European markets.
AlphaBIZ Kim Jisun(stockmk2020@alphabiz.co.kr)
