Daewoong Pharmaceutical is experiencing a decline in its stock price as concerns about the ongoing trade secret infringement lawsuit with Medytox resurface.
As of 10:10 a.m. on September 3, Daewoong's shares were trading at 118,300 won, down 5,800 won (4.67%) from the previous trading day, according to the Korea Exchange.
On September 2, Daewoong announced that Medytox had significantly increased its damage claim in the ongoing appeal regarding the trade secret infringement lawsuit at the Seoul High Court.
Medytox has raised its damage claim against Daewoong from 50 billion won to 500 billion won, a tenfold increase. The total amount claimed now stands at 501 billion won, which represents 44.08% of Daewoong's consolidated equity as of 2025.
The legal battle between the two companies began in 2017 when Medytox accused Daewoong of misappropriating its botulinum strain and manufacturing processes. In 2023, the Seoul Central District Court ruled partially in favor of Medytox, ordering Daewoong to pay 40 billion won in damages. Both parties have since appealed, and the case is currently under review at the Seoul High Court.
However, the 500 billion won figure is the amount Medytox has claimed in court, and the actual compensation amount has yet to be determined. Daewoong has stated that it will actively respond through its legal representatives.
* This article has been translated by AI.
Copyright ⓒ Aju Press All rights reserved.