Hugel's 'Botulax' Obtains UK Product Authorization in Europe's Largest Toxin Market
First Shipment to Europe Completed on the 23rd
[Asia Economy Reporter Lee Gwan-joo] Hugel is making a full-scale entry into the UK, the largest botulinum toxin market in Europe.
On the 24th, Hugel announced that it had obtained marketing authorization from the UK Medicines and Healthcare products Regulatory Agency (MHRA) on the 22nd for its botulinum toxin product "Botulax" (export name Retivo) 50 units, indicated for glabellar lines.
The UK is the largest market among the five major European botulinum toxin markets (UK, France, Germany, Italy, Spain), accounting for 70% of the European botulinum toxin market. The UK toxin market, estimated at approximately 120 billion KRW this year, is expected to grow to 150 billion KRW by 2025.
Hugel plans to actively enter the UK local market, a European hub region, within the second quarter and focus on rapidly expanding its market share in Europe. To this end, it plans to carry out customized marketing activities targeting young adults with high demand for botulinum toxin procedures simultaneously with the local product launch.
Earlier, Hugel received marketing authorization opinions from the Heads of Medicines Agencies (HMA) in January and obtained marketing authorization in France, and plans to enter 11 major European countries including Austria and the UK within this year. On the 23rd, it conducted its first shipment to Europe and is on the verge of launching its local product in Europe, the first among domestic botulinum toxin companies.
Additionally, Hugel will participate in the ‘International Master Course on Aging Science (AMWC) 2022’ held in Monaco from March 31 to April 2, showcasing Botulax across Europe.
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A Hugel official said, “The UK is the largest botulinum toxin market in Europe, and obtaining this approval will be a very important milestone in expanding Hugel’s corporate presence in the European market. Along with France and Austria, where we have already entered, we will quickly settle in the local market and start successful entry into 11 major countries this year, completing entry into all 36 European countries by next year and growing into a global botulinum toxin company.”
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