Medy-Tox, Inc. (086900) raised its damages claim against Daewoong Pharma (069620) to ₩500 billion, Dailian reported Friday. The dispute concerns alleged theft of a botulinum strain and related trade secrets used in a competing product.
The Seoul High Court scheduled the next appeal hearing for September 17 at 2 p.m. The companies have been in litigation over the matter for nine years, according to the report.
Medy-Tox's market capitalisation was ₩0.5 trillion at Friday's close. The new amount is about ten times the prior claim, and Medy-Tox described ₩500 billion as a partial claim.
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| Symbol | Last Price |
|---|---|
| 086900Medy-Tox, Inc. | ₩69,600 +0.4% |
| 069620Daewoong Pharma | ₩116,100 +1.1% |