Korea Health Corp.

The production license has been revoked, and it is definitely impossible to continue selling. Recently, according to Korean media reports, the US Food and Drug Administration of South Korea announced that the production license of botulinum toxin innotox, which was properly launched by Korean medical beauty companies, was revoked by the Korean government because it used improper means to change procedures and violated relevant Korean laws. In addition, the Korean government also asked Medtronic to recall and scrap innotox products that have been put on the market. According to the investigation report of the US Food and Drug Administration in Korea, the company forged some experimental data, so the investigation team asked the company to stop producing related products last year, and then revoked its license. It is reported that the product Innotox involved in this incident is a botulinum preparation developed by Medtronic, which is mainly used for cosmetic surgery, and its products account for more than 40% of the Korean botulinum market.

It is reported that the company has also established cooperation with Huaxi Bio, a domestic pharmaceutical company. According to its announcement, the two parties set up a joint venture company on 20 15, intending to enter the China market with a botulinum toxin product. But now, with the production licenses of many products of this Korean company revoked, the development of this joint venture company will also face challenges in the future. In fact, this is not the first time for this company. A few years ago, the production licenses of three botulinum toxin products owned by Medtronic were revoked. The relevant departments in South Korea said that they had received reports that Medtronic had forged the data of some products, and there were frauds in several approval links, which violated relevant laws. This time, Innotox product is also the third product whose production license has been revoked.

In the first half of last year, the Korean regulatory authorities revoked the license of the company's botulinum toxin type A, Meditoxin, and imposed a fine of 65.438+700 billion won. Subsequently, the Korean regulatory authorities not only issued a ban on the product, but also issued a three-month production ban on the company. The South Korean Procuratorate also filed a lawsuit against the company's president. It is reported that this company's market share of botulinum toxin in South Korea exceeds 30%. In 20 19, the company also realized the export of121600 million won, accounting for more than 60% of its revenue. It can be said that export is its main source of income.

Now Medtronic's botulinum toxin products are notorious and its brand image is extremely negative. It is difficult to re-enter the China market, and its partner Huaxi Bio will also be affected.