Hugel Applies for European Sales Approval of Botulinum Toxin

[Asia Economy Reporter Cho Hyun-ui] Hugel has entered the final stage of entering the European botulinum toxin market, which is worth about 1 trillion KRW.

Global total medical aesthetic specialist company Hugel announced on the 30th that it completed the application for sales approval of its botulinum toxin formulation in Europe on the 29th.

Earlier, Hugel completed Phase 3 clinical trials (Bless 1, 2) in Poland and Germany last January with its European distribution partner, Croma. The company expects to obtain approval around mid-next year.

The European botulinum toxin market is worth about 1 trillion KRW. It is a huge market that, along with the United States, accounts for more than 70% of the global botulinum toxin market.

Hugel signed a partnership with Austrian pharmaceutical company Croma to successfully establish itself in the European market, with Croma responsible for distribution within Europe.

A Hugel official said, “The submission of this sales approval application will be the cornerstone for Hugel’s full-scale expansion into the global market,” adding, “Through successful entry into the global Big 3 markets ? China, expected to be approved around mid-year, and the United States, aiming to submit the sales approval application by the end of this year ? Hugel will focus on becoming a global company.”

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