Medytox to build plant for finished toxin products in Dubai

South Korea's biopharmaceutical company Medytox Inc. will build a plant for finished products containing botulinum toxin in the United Arab Emirates (UAE) in what will be the first such facility abroad constructed by a Korean company.

The company on Tuesday said it signed a memorandum of understanding (MOU) with Dubai Science Park owned by Tecom Group, a Dubai government-run company, on construction of a plant for making finished toxin products. Medytox is also taking part in Korean President Yoon Suk-yeol's economic mission to the UAE that began on Saturday.

Medytox said it considered construction of production facilities abroad with several foreign companies to take on the global toxin market. The company picked Dubai thanks to its easy access to the Middle East and Europe and an excellent environment.

When completed, the Dubai plant will make Medytox the first Korean company to build a factory abroad for finished toxin products. The company started talks on action plans for the facility and will sign the main contract after such discussions.

"Our halal-certified factory for finished toxin products in Dubai will serve as a base for Medytox's toxin drugs to advance to the global market," Medytox CEO Jung Hyunho said.

Write to Min-Soo Han at hms@hankyung.com