Daewoong Pharmaceutical Co.'s botulinum toxin "Nabota" has started to expand its influence in the Asian market. Daewoong Pharmaceutical announced on June 23 that it has recently obtained item approval for Nabota's intramuscular wrinkle indication from Taiwan Food and Drug Administration (TFDA).
Taiwan is one of the countries that is expected to grow in the beauty market in Southeast Asia. The approval is expected to allow Nabota's status in the Asian beauty plastic surgery market to be raised to a higher level.
Nabota, currently released in Thailand, Philippines, Vietnam and India among Southeast Asian countries, was approved in Indonesia in December.
Daewoong Pharmaceutical will release Nabota in Taiwan during the second half of this year. Nabota's sales in Taiwan will be handled by its partner company, Orient Europharma Co."
Orient Europharma is a Taiwan-based global pharmaceutical company that has secured major pipelines and strong sales networks in beauty and plastic surgery-related fields, so synergy is expected upon the release of Nabota.
"Taiwan is significant in that it is one of the fastest growing beauty markets in Asia and an important market where we can test the possibility of success in preparation for entering China," said Park Sung-soo, head of the Nabota business division at Daewoong Pharmaceutical. "Through this approval, we will strengthen Nabota's status as a global brand."
Meanwhile, botulinum toxin has now obtained item licenses in 52 countries around the world, including the United States, Canada and Europe, and has completed the signing of sales contracts in about 80 countries.
