Monday, 10 August 2020

Daewoong Pharma expands influence across Asia

08 July 2020 | News

Acquired marketing authorization from 52 countries around the world and signed sales agreements with 80 countries

Photo Credit: Freepik

Photo Credit: Freepik

Korea's Daewoong Pharmaceutical’s original botulinum toxin product Nabota is stepping up to expand its influence across Asia. 

Daewoong Pharmaceutical announced on 23 June 2020 that the company obtained marketing approval for Nabota’s indication of glabellar wrinkles from the Taiwan Food and Drug Administration (TFDA).

Taiwan is one of the countries in Southeast Asia where the beauty market is expected to grow, and this marketing approval allows the company to raise Nabota’s global standing in the Asian cosmetic surgery market.

Currently, Nabota has been launched in Southeast Asian countries like Thailand, Vietnam, India and the Philippines, and it obtained marketing authorization back in December.

Daewoong is planning to launch Nabota in Taiwan in the second half of this year. Orient Europharma Co., Ltd. (OEP) will be in charge of selling Nabota to Taiwan. OEP is a global pharmaceutical company based in Taiwan, and it is expected to produce synergy with Nabota as it has a major pipeline and strong sales network in the cosmetic surgery area.

Seongsoo Park, head of Daewoong’s Neurotoxin Business Division, said, “It is particularly meaningful as Taiwan is one of the Asian countries whose beauty market is growing rapidly and an important market to test a possibility of success in China. This marketing authorization is expected to allow us to further strengthen Nabota as a global brand.”

Meanwhile, this botulinum toxin product originally manufactured and supplied by Daewoong has obtained marketing authorization in 52 countries around the world, including the US, Canada, and Europe, and signed sales agreements with approximately 80 countries.

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