[Featured Stock] Medytox Achieves Record High Sales for 2 Consecutive Years, Up 9%

Medytox is showing strong performance in the early session. It appears that investor sentiment has surged as the company has recorded its highest sales for two consecutive years.

As of 9:45 AM on the 14th, Medytox is trading at 136,000 KRW, up 12,000 KRW (9.68%) from the previous trading day.

Through its earnings announcement the previous day, Medytox reported consolidated sales of 228.6 billion KRW, operating profit of 20 billion KRW, and net profit of 15.8 billion KRW for last year. Sales, operating profit, and net profit increased by 3.4%, 15.6%, and 63.5% respectively compared to the previous year.

Thanks to strong performance in its main business segment, hyaluronic acid fillers, and growth in Neuroderma Cosmetic Neuraderm, Medytox has achieved record-high sales for two consecutive years. Operating profit improved due to a decrease in commission fees and other factors.

Another positive factor is Medytox’s final victory in an administrative lawsuit against the Ministry of Food and Drug Safety (MFDS), which had ordered the cancellation of product approval and suspension of manufacturing and sales of the botulinum toxin product "Medytoxine" (commonly known as Botox) on the grounds that it was manufactured using unapproved raw materials.

On the 13th, the Supreme Court Special Division 1 dismissed the MFDS’s appeal in the final appeal trial regarding the cancellation of product approval and suspension of manufacturing and sales for three Medytoxine injection products (50, 100, and 150 units) filed by Medytox against the head of the Daejeon Regional Food and Drug Administration.

Accordingly, the MFDS’s June 2020 cancellation order for the three Medytox botulinum toxin products was finally overturned.

This content was produced with the assistance of AI translation services.