[E-Daily Reporter Minji Son ]

Medy-Tox Inc.(086900)has increased the amount of damages it is seeking from DAEWOONGPHARMACEUTICAL(069620)to 500 billion won, alleging the theft of its botulinum toxin strain and manufacturing technology.

According to the Financial Supervisory Service’s electronic disclosure system on the 2nd, DAEWOONGPHARMACEUTICAL announced that it had amended the scope and grounds of its claim in connection with the appeal in the trade secret infringement injunction lawsuit currently pending before the Seoul High Court.

Medy-Tox Inc. increased the amount of damages it is seeking from DAEWOONGPHARMACEUTICAL from the previous 50 billion won to 500 billion won.

Including the 1 billion won jointly claimed by Medy-Tox Inc. from DAEWOONGPHARMACEUTICAL, the total amount claimed is 500.1 billion won. This amounts to 44.08% of DAEWOONGPHARMACEUTICAL’s consolidated equity of 1.1347 trillion won last year.

In addition to damages, Medy-Tox Inc. demanded that DAEWOONGPHARMACEUTICAL hand over the botulinum strain it holds, prohibit its use, ban the manufacture and sale of related botulinum toxin products, and dispose of finished and semi-finished products. It also requested the destruction or deletion of documents and files containing information related to the strain and the manufacturing technology for toxin preparations.

In a regulatory filing, DAEWOONGPHARMACEUTICAL stated that its future course of action would be to “respond proactively through its legal counsel.”

Meanwhile, this lawsuit is the appeal in the trade secret infringement case that Medy-Tox Inc. filed against DAEWOONGPHARMACEUTICAL in October 2017. In February 2023, the Seoul Central District Court issued a partial ruling against DAEWOONGPHARMACEUTICAL in the first instance, ordering the company to pay 40 billion won, among other measures. Both parties subsequently filed appeals, and the appeal proceedings are currently underway.