Nicepharm Partners with Medytox to Enter Southeast Asian Cosmeceutical Market

[Asia Economy Reporter Eunmo Koo] Pharmaceutical manufacturing and distribution company Nicepharm is set to actively sell Medytox's self-developed cosmeceutical (cosmetics + pharmaceuticals) products in the Southeast Asian market.

Nicepharm, a subsidiary of KOSPI-listed Wellbiotech, announced on the 12th that it has signed a distribution partnership agreement for the cosmeceutical brand 'Neuraderm' with Medytox Korea, Medytox's domestic sales corporation, for the Southeast Asian market.

Under this agreement, Medytox Korea grants Nicepharm the official distribution rights for cosmetics in the Southeast Asian market. Nicepharm is a pharmaceutical manufacturing and distribution company with annual sales growth exceeding 30%, and Wellbiotech holds an 81.9% stake in the company.

Neuraderm is a cosmeceutical brand based on the patented peptide 'Mbiome-BT' developed by Medytox researchers. Peptides, which are protein components, are fundamental ingredients that create skin tissue and supply energy, and are widely used as cosmetic raw materials.

The first product launched under the Neuraderm brand is 'Neuraderm M.BT_NMPs'. After its domestic release, Neuraderm M.BT_NMPs sold out its initial stock within a week, generating sales of 1.2 billion KRW.

A Nicepharm official stated, "With this contract, we have expanded our business scope from pharmaceutical manufacturing and distribution to the cosmeceutical market," adding, "Together with Medytox, we will create meaningful achievements in the global cosmeceutical market, starting with the Southeast Asian market."

This content was produced with the assistance of AI translation services.