Korean botulinum toxin maker Medytox denied speculation about the ongoing regulatory review of its product Neuronox in China that sent its Kosdaq stock crashing on Monday, saying it continues discussion with Chinese government agencies and the regulatory review is taking place under due process.

The company’s remark came after the product’s review status indicated on the website of the Center for Drug Evaluation (CDE) under the National Medical Products Administration (NMPA) was recently switched from `review complete’ to ‘review waiting’.

The company said the procedure is part of the agency’s review process and is not intended to inform applicants of the change.

In response to media reports about a potential failure in marketing of Neuronox in China, Medytox said the CDE website discloses the process of exchanging opinions and requesting materials between authorities and departments during its review process.

It warned of taking legal action against incorrect media reports.

Its share price tumbled 10.5 percent on Monday due to the rumor. On Tuesday, it finished 1.14 percent lower at 295,400 won despite its denial.

By Pulse

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