Nabota Daewoong Pharmaceutical is entering Australia for the first time.
Daewoong Pharmaceutical announced on the 25th that its botulinum toxin ‘Nabota’ (export name: Nusiva) was granted item approval in Australia on the 13th.
With this product approval in Australia, Nabota has obtained approval in 61 countries worldwide, and aims to obtain approval in more than 100 countries in the future.
The item approved by the Australian Food and Drug Administration (TGA) from Evolus, an Australian partner, is 100 units of Nuciva, and Daewoong Pharmaceutical applied for item approval in December 2021. Permission was granted.
Nuciva is expected to be released in Australia in the second half of this year or the first half of next year, and Evolus, which has already cooperated with cosmetic brand partner Daewoong Pharmaceutical in expansion and overseas achievements in the US and Europe, will charge for local distribution and sales in Australia.
Australia is a large market that is among the top 10 global botulinum toxin markets, and the market size is estimated to reach more than KRW 100 billion by 2022. In addition, among non-surgical procedures, botulinum toxin accounts for the largest share, which is 41%, and the cost per person is also high.
Pharmaceutical Vice President Daewoong Sung-soo Park said, “We are proud to introduce Nuciva with excellent stability and quality to Australians. We will strive to establish ourselves as the global No. 1 botulinum toxin drug.”