September 08, 2020: New York, NY
Aquavit Pharmaceuticals, Inc. ("Aquavit") won a default judgement against counterfeiter in the United States District Court for the Southern District of New York in a civil action against Global Medi Products, a South Korean company.
The Honorable Valerie E. Caproni ordered, adjudged, and decreed that Aquavit have judgment against Global Medi Products, one of three defendants in a Trademark Infringement Case and Verified Complaint brought by Aquavit in early 2019. Damages will be determined at the conclusion of the case against the remaining defendants: U-Bio Med, Inc., and Nyun Shi Eum a/k/a Neon-Sik Eum, who is the owner of both Ubiomed and Global Medi Products.
The Default Judgment against Global Medi Products was on numerous counts including tortious business interference, defamation, trademark infringement, and unfair competition.
U-Bio Med and Nyun Shi Eum a/k/a Neon-Sik Eum have been ordered for Compensatory sanctions and Coercive sanctions for contempt. They were also indicted for criminal activity for trademark infringement of AQUAGOLD in South Korea in 2019 and both the company and its CEO were fined this year.
"Their transgressions have unquestionably impacted our commercial operations. The compensatory sanctions are certainly warranted, but more importantly we are glad to restore our customer confidence and our company's product integrity", said Tim Sherwood, Aquavit's SVP, Commercial Operations.
About AQUAGOLD® fine touch™
AQUAGOLD® fine touch™ is a first of its kind, patented repeated motion microchannel microinjector delivering approximately 1,200 to 2,000 microinjections per minute to deliver bioactive compounds intradermally. The device is designed to painlessly and effectively deliver bioactive compounds into the skin, avoiding common complications associated with traditional techniques. AQUAGOLD® fine touch™ is manufactured and distributed by Aquavit Pharmaceuticals, Inc. and its subsidiaries.
About Aquavit Pharmaceuticals, Inc.
Aquavit Pharmaceuticals, Inc. is a high-tech pharmaceutical company that provides a comprehensive range of innovative pharmaceutical, biotech and medical device technologies. Aquavit Pharmaceuticals, Inc. focuses on personalized medicine to improve patients' health, maximize the efficiency of our medical community, and support the pharmacoeconomics of payers.