Hugel, First Shipment of 'Letibo' Exported to China... "Market Leader Within 3 Years"

[Asia Economy Reporter Hyunseok Yoo] Hugel, a global total medical aesthetic specialist company, announced on the 9th that it has shipped the first export volume of the botulinum toxin product ‘Letybo’ (Chinese export name) to China.

Previously, Hugel received sales approval for Letybo from the China National Medical Products Administration (NMPA) last October. This achievement came about one and a half years after submitting the BLA in April last year. With this, Hugel became the first domestic botulinum toxin company and the fourth worldwide to gain entry into the Chinese market. Subsequently, the local distribution of Letybo will be handled by Hugel’s Chinese partner company, Sahuan Pharmaceutical, for five years. The exported Letybo is expected to be actively distributed mainly in major Chinese cities around March to April next year.

Starting with this shipment, Hugel plans to sequentially hold academic symposiums both online and offline as its entry into the Chinese market intensifies. Beginning with an online ‘Letybo Launch Event’ for local medical professionals in January next year, from March onwards, offline launch symposiums will be held in ten major Chinese hub cities including Beijing, Shanghai, Guangzhou, and Shenzhen, targeting over one thousand Chinese healthcare experts in each city. Korean medical professionals will participate as speakers to convey the excellence and safety of Letybo. Additionally, there will be sessions sharing various information related to the beauty and plastic surgery fields, from procedure techniques using Letybo to recent procedural trends.

Besides company-led launch symposiums, detailed plans are also finalized for academic programs linked to major Chinese academic conferences such as the Chinese Society of Plastic and Aesthetic Surgery, the Chinese Society of Plastic Surgery, and the Shanghai International Plastic Surgery Conference.

A Hugel official stated, “The Chinese botulinum toxin market is a blue ocean with high growth potential, and this first export will be a solid nutrient for Hugel’s growth into a global company.” He added, “We will do our utmost to expand local export volumes through aggressive distribution marketing activities and aim to achieve the number one position in the local market within three years based on this.”

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