Daewoong Pharmaceutical announced today that NABOTA, its botulinum toxin, obtained product approval in Singapore on January 20th. Nabota is the first South Korean botulinum toxin that has obtained permission from Singapore.
The product approved by Singapore's Health Sciences Authority is 100 units of Nabota, and Daewoong Pharmaceutical obtained permission in 1 year and 5 months after applying for item permission in September 2021.
Daewoong Pharmaceutical plans to release Nabota in Singapore in the third quarter of this year, and Hyphens Pharma Pte Ltd, a subsidiary of Hypens Group, a Singapore Stock Exchange (SGX) listed company, is in charge of local distribution and sales.
Compared to other Southeast Asian countries, Singapore's botulinum toxin market is small, but thanks to its high national income, Singapore's beauty and medical industries are developed, and it is called a strategic point for market expansion in the region.
Therefore, gradual expansion to neighboring countries and an increase in brand awareness are expected starting from the Singapore approval and release.
In addition, with the rapid aging of the population in Southeast Asian countries, interest in improving the quality of life is increasing, which is expected to lead to the growth of the beauty medical market.
Park Seong-soo, vice president of Daewoong Pharmaceutical, said, “Singapore is a country that has a great influence on the Asian beauty and medical industry. It is not only meaningful in that it was the first Korean botulinum toxin brand to obtain permission from Singapore, but it is expected that Nabota's market share in Asia will accelerate based on this.”
Meanwhile, Nabota is a botulinum toxin formulation that Daewoong Pharmaceutical launched in Korea in 2014, and is the only botulinum toxin approved by the US Food and Drug Administration (FDA) not only in Korea but also in Asia.
It is a premium high-purity toxin based on the latest High-Pure Technology patented technology that minimizes impurities, and is characterized by high safety, rapid effect, and uniform spreading power. As of February 2023, it offers excellent beauty and treatment options in 62 countries, including the United States and Europe.
