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Chong Kun Dang (Photo = Chong Kun Dang) |
[Alpha Biz= Paul Lee] Chong Kun Dang Holdings (KRX: 001630) announced on the 18th that its subsidiary, Kyungbo Pharmaceutical, has obtained a court-issued temporary injunction suspending the effectiveness of an administrative order to revoke marketing authorizations for 23 prescription drug products.
Previously, Kyungbo Pharmaceutical had received a notice of license revocation and business suspension from June 24, following alleged violations of Article 76 (1)-3 and (3) of the Pharmaceutical Affairs Act, involving approximately KRW 13.5 billion worth of prescription drug products.
In response, Kyungbo Pharmaceutical filed for an administrative injunction and a lawsuit to contest the cancellation. On June 16, the court accepted the injunction request and ruled to temporarily suspend the license revocation and the corresponding reimbursement suspension until a final decision on the injunction is made.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
