October 25, 2024
Bio
Daewoong gets nod for Nabota in Europe
South Korean drugmaker Daewoong Pharmaceutical said Oct, 2 it has won approval from European authorities for the sale of its botulinum toxin product.
The European Commission accepted Daewoong’s application to sell Nabota, Korea’s first botulinum toxin product to receive the green light for the treatment of frown lines.
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With the approval, Nabota can be sold in 28 EU member states, as well as Norway, Iceland and Liechtenstein, according to the company.
Daewoong said its global partner Evolus will be in charge of the sales of Nabota in Europe, which will be marketed starting in 2020.
The approval will help Daewoong Pharmaceutical make further inroads into the European botulinum toxin market, which accounts for nearly 70 percent of the global market combined with the United States.
The approval comes after the product was approved by the US Food and Drug Administration in February. It was first introduced in the local market in 2014 for the treatment of facial wrinkles, as well as arm paralysis, by weakening or paralyzing certain muscles or by blocking certain nerves.
By Ram Garikipati and newswires (ram@heraldcorp.com)
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