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Kyungbo Pharmaceutical. (Photo: Kyungbo Pharmaceutical) |
[Alpha Biz= Kim Jisun] Seoul, South Korea — July 9, 2025 — Kyungbo Pharmaceutical announced that the court has granted an injunction to suspend the enforcement of license revocations affecting several of its prescription drug products. The decision follows the company’s legal filing contesting the Ministry of Food and Drug Safety's (MFDS) earlier ruling.
The product license cancellations were originally issued due to alleged violations of South Korea’s Pharmaceutical Affairs Act. The cited reasons included the unauthorized continuation of operations during a period of business suspension and the sale of pharmaceuticals during that time in violation of related bans.
The sales from the affected products amounted to approximately KRW 13.48 billion in 2024, accounting for about 5.65% of Kyungbo Pharmaceutical’s total annual revenue.
In response, the company promptly submitted both a formal lawsuit and an application for injunction to the court. The court has now granted the injunction, allowing the company to temporarily maintain product licenses and continue sales pending a final ruling.
Kyungbo Pharmaceutical stated that it will continue to engage with regulators and legal authorities to resolve the matter while minimizing impact on its operations and patients.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
