April 19, 2024

• 

[THE INVESTOR] Sales of Medytox’s botulinum toxin products are expected to see a strong pick up as its new plant is set to begin operations, a brokerage firm said on Dec. 20.

Medytox said Dec. 19 that it was awarded the Korea Good Manufacturing Practice certification by the Ministry of Food and Drug Safety for a botulinum toxin production facility at its third factory in Osong. 

Jeong Bo-ra, an analyst at Korea Investment & Securities, said the new mill will resolve concerns about Medytox’s sales growth of botulinum toxin products which were slower than other rivals this year due to lack of production capacity.

“By running the Osong factory along with the first plant in Ochang, Medytox has secured botulinum toxin and filler production lines that could produce 760 billion won (US$637.95 million) worth products a year,” Jeong said.

The company plans to make the first shipment of products from the new facilities this month.

By Park Han-na (hnpark@heraldcorp.com)