[Featured Stock] Medytox Hits Lower Limit Due to Product Approval Cancellation Bad News... Exchange Says "Not Subject to Delisting"
[Asia Economy Reporter Minji Lee] Medytox is maintaining its lower limit price following the news of the cancellation of the approval for its main product.
At 3:19 PM on the 20th, Medytox was traded at 133,700 KRW, down 30% (lower limit) from the previous session.
On this day, after the news that on the 17th the Ministry of Food and Drug Safety had issued a manufacturing and sales suspension order for its main product, the botulinum toxin preparation (Medytoxine Injection), the stock immediately hit the lower limit price after trading began. The Korea Exchange suspended trading for 30 minutes after the regular market opened.
In response, Medytox stated that there are no issues with the safety and efficacy of the product and filed a request for suspension of execution and a lawsuit to cancel the order at the Daejeon District Court.
Hot Picks Today
At President Lee's Call to "Give Enough to Shock," Whistleblower Rewards Become a Real Lottery
- "If Both Spouses Work There, How Much Would They Make?" "They Earn More Than Me, and I'm a Doctor"... Envy Erupts Over Samsung Electronics' Bonus
- Lived as Family for Over 30 Years... Daughter-in-Law Cast Aside After Husband's Death
- "Who Is Visiting Japan These Days?" The Once-Crowded Tourist Spots Empty Out... What's Happening?
- Park Minshik Shaves Head: "I Will End Han Donghoon's Predatory and Parasitic Politics"... Ongoing Calls for Conservative Consolidation in Busan Buk-gu Gap within PPP
Meanwhile, the exchange reportedly judged that Medytoxine Injection is not subject to delisting. This judgment was based on the expectation that sales can be generated through other products besides Medytoxine Injection.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
