November 26, 2024

• 

Daewoong Pharmaceutical's botulinum toxin product, Nabota, which is sold as Jeuveau in the US (Daewoong Pharmaceutical)

Daewoong Pharmaceutical said Tuesday that its botulinum toxin product, Nabota, posted 113.3 billion won ($85.3 million) in sales as of the third quarter this year.

Overseas sales made up 93.5 billion won or 83 percent of the total, the company added.

Nabota's overseas sales have continued growing in recent years, an outcome of Daewoon's global push. The portion reached 61 percent in 2021 and then surged to 77 percent last year.

US sales, in particular, reached 44.5 billion won, making up more than 50 percent of global sales.

“Nabota’s share in the US botulinum toxin market has surged over the last two years. We expect to further boost our share in the future," a Daewoong official said.

Nabota, sold as Jeuveau in the US, made its US debut in 2020 through local partner Evolus’ botulinum toxin treatment program. Nabota currently has around an 11 percent share in the US botulinum toxin market, according to the company.

“Nabota was able to take the lead among Korea’s botulinum toxin products as Daewoong set its plans ahead for its launch in the US and received approval from the US Food and Drug Administration fast,” said Park Seong-soo, vice president of Daewoong Pharmaceutical.

In South Korea, a total of 11 botulinum toxin products have received approval from the government so far, and three additional products are under review.

Daewoong said the company will speed up Nabota launches in European countries, including Germany, Italy and Austria.

The company added it would also make a foray into the Malaysian market soon. In August, Daewoong received sales approval from the National Pharmaceutical Regulatory Agency in Malaysia.

By Shim Woo-hyun  (ws@heraldcorp.com)