Rising to No.1 Market Share in Domestic Market Just 6 Years After Entry

Hugel 'Botulax·The Chaeum'

[Asia Economy Reporter Seo So-jeong] Hugel, a domestic medical aesthetic company, recorded its highest-ever operating profit of 29.5 billion KRW in the first quarter of this year. Despite COVID-19, the botulinum toxin 'Botulax' and HA filler brand 'The Chaeum' grew by 111% and 46%, respectively, compared to the same period last year.

Hugel first entered the domestic market in 2010 through Botulax and rose to the number one market share position within six years of entering the market. Currently, Botulax holds 50% of the domestic market.

Botulax has obtained approval for a total of five units (50 units, 100 units, 150 units, 200 units, 300 units) and five indications (based on 100 units), including blepharospasm, glabellar lines, and upper limb spasticity after stroke. In addition, it is developing new formulations, including clinical trials of a liquid toxin product containing the local anesthetic lidocaine.

Hugel's HA filler brand The Chaeum entered the domestic market in 2014, four years after the launch of Botulax. It has established the largest portfolio in Korea with a total of four lines and 13 products. Since last year, it has started constructing a new HA filler factory, and held a completion ceremony on the 7th, about 11 months after the start of construction, preparing for smooth product supply.

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