Daewoong Pharmaceutical Nabota’s botulinum toxin has planted its first flag in the Oceanisa market. Having approved the product in Australia, one of the world’s top 10 markets, the company plans to proceed with approval and release in major markets such as China in the future.
Daewoong Pharmaceutical (CEOs Jeon Seung-ho and Lee Chang-jae) announced on the 25th that its botulinum toxin Nabota (export name Nuceiva) received item approval in Australia on the 13th.
Through Australia, Daewoong Pharmaceutical has increased the number of countries for which it has obtained licenses to 61 countries.
Australian partner Evolus received approval for 100 unit items from the Australian Food and Drug Administration (TGA), which is more than a year after applying for item approval in December 2021.
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 for expansion and overseas achievements in the United States and Europe, will charge for local distribution and sales in Australia.
Evolus will lead the marketing of Medico based on knowledge accumulated through successful market share growth in the US and Europe, the largest botulinum toxin markets, and conduct successful brand marketing in Australia with Daewoong Pharmaceutical.
According to Daewoong Pharmaceutical, Australia is one of the largest botulinum toxin markets in the world and is estimated to reach more than 100 billion won by 2022.
In addition, among non-surgical procedures, botulinum toxin accounts for the largest share, at 41%, and the cost per person is also high.
Vice President Park Seong-soo of Daewoong Pharmaceutical said, “I am delighted to introduce Nuciva, which has excellent stability and quality, to Australians.” We will try to establish ourselves as a botulinum toxin preparation.”
