Shares of Daewoong Pharmaceutical dipped 8 percent Monday as its botox products could be permanently ousted from the U.S. market after the Office of Unfair Import Investigations (OUII) under the U.S. International Trade Commission (ITC) on Monday made the recommendation while upholding the ITC’s preliminary verdict in favor of Medytox.

In the July verdict that involved two Korean botox makers and U.S. botox maker Allergan, the ITC found Daewoong Pharm guilty of theft on a botulinum toxin strain, advising that imports of Daewoong’s botox products should be banned in the U.S. in the next 10 years.

The OUII also said the ban should be indefinite instead of 10 years once a final verdict is rendered against Daewoong Pharm.

The OUII opinion which could affect the ITC’s verdict comes after Daewoong’s complaint with the ITC, arguing the primary ruling is a misjudged reasoning based on Medytox’s one-sided arguments.

In its statement, the OUII said it was very difficult to find a commercially available botulinum strain, which is why Daewoong was forced to steal one from Medytox and there is a greater benefit of protecting intellectual property rights than the risk of infringing on U.S. consumers` rights to choice.

The ITC’s final ruling is scheduled to be delivered on Nov. 19.

Daewoong Pharm shares finished 8.10 percent down at 91,900 won ($81.5), whereas Medytox gained 6.7 percent to close at 190,900 won.

By Kim Si-gyun and Minu Kim

[ⓒ Pulse by Maeil Business Newspaper & mk.co.kr, All rights reserved]