Medytox to supply $73 mn botulinum toxin to Brazilian firm
Yoo-Rim Kim
Mar 26, 2024 (Gmt+09:00)
South Korea's biopharmaceutical firm Medytox Inc. announced on Tuesday that it signed a contract with Brazilian pharmaceutical company Blau Farmaceutica SA to supply $73 million worth of botulinum toxin products over five years.
According to the company, Blau signed this contract while acquiring Medytox's existing Brazilian partner, Bergamo.
Under the terms of the deal, Medytox will supply botulinum toxin products, including "Newlux," to Blau, which will sell them locally in Brazil.
Medytox entered Brazil in 2010 with its botulinum toxin product Meditoxin and exported over 20 billion won products last year. This accounted for 30% of Medytox's total toxin exports.