November 23, 2024

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[THE INVESTOR] Korea’s botulinum toxic product maker Medytox is looking to acquire promising skin care firms in order to create synergies with its flagship wrinkle smoother business.

“The target pool is a range of aesthetic solutions, including medical devices, topical creams, injectables and probiotics. Something that can be linked to dermatology and plastic surgery,” Medytox CEO Jung Hyun-ho told The Investor on April 11

Medytox, a specialist in facial injectable products such as fillers and neurotoxic, is seeking to diversify its business portfolio after years of robust growth largely buoyed by its affordable anti-wrinkle injections.

The company is the only biopharmaceutical company in the world to own three different types of botulinum toxic products -- Neuronox, Innotox and Coretox -- all developed in-house.

Its total sales stood at 133.3 billion won (US$116.8 million) last year.

“Our focus has shifted to how to use the money generated by the neurotoxic cash cows,” the CEO said. “I’ll lead the company, a dominant player in the neurotoxic market, to the next step.”

By Park Han-na (hnpark@heraldcorp.com)