Alphabiz - Medytox claimed 35 billion won in expenses from Allergan for return of rights

[Alpha Biz=(Chicago) Reporter Paul Lee] Medytox announced on the 27th that it had claimed costs of $26.98 million (approximately 35 billion won) related to the return of Allergan's rights.

Medytox signed a technology transfer contract with Allergan for liquid botulinum toxin 'MT10109L' in 2013. Allergan returned its rights to Medytox in September 2021.

Medytox filed for arbitration with the International Chamber of Commerce (ICC) in September last year, demanding Allergan to pay for data transfer costs and other damages from the return of its rights. The bill is in the range of 35 billion won.

Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)