Medytox announced on Dec. 26 that it has filed for arbitration with the International Chamber of Commerce (ICC) in September last year, seeking US$26.98 million in damages and costs related to the return of rights and data transfer from Allergan.
Medytox had entered into a technology transfer agreement with Allergan in 2013 for the liquid form of botulinum toxin MT10109L. Allergan returned the rights to Medytox in September 2021.
According to Medytox, the arbitration request was filed by Medytox but became a matter of public record after Allergan filed a counterclaim on Dec. 21.
Medytox stated that they believe Allergan’s counterclaims are unjustified and plan to actively respond through legal representation.
Jasmine Choi
pr@businesskorea.co.kr