Hugel Obtains Australian Product Approval for Botulinum Toxin 'Botulax'

First Shipment and Market Launch in Q1 Next Year

[Asia Economy Reporter Lee Gwan-joo] Hugel announced on the 24th that on the 23rd (local time), it obtained product approval from the Australian Therapeutic Goods Administration (TGA) for the botulinum toxin product 'Botulax' (export name Retivo) 50 units and 100 units for the indication of glabellar lines.

Australia is one of the top 10 countries worldwide for cosmetic and plastic surgery procedures. Botulinum toxin accounts for the largest share (41%) of non-surgical cosmetic procedures, and the per capita procedure rate is known to be higher than that of the United States. The market size is approximately 100 billion KRW as of this year, and it is evaluated as a market with great potential, expected to grow at an average annual rate of about 7% until 2025.

Hugel plans to complete the first shipment and local market launch within the first quarter of next year, with distribution and marketing handled by Hugel's local subsidiary in Australia. To ensure successful market entry and expand market share, sales and marketing activities will be actively promoted. Along with reasonable pricing, the company plans to effectively communicate the efficacy and safety of Botulax through local medical staff training, academic programs with large medical institutions, and key opinion leaders (KOLs).

A Hugel official said, "With this product approval in Australia, Hugel has opened the way to pioneer the Oceania continent beyond Asia, Europe, and North America," adding, "As the first domestic botulinum toxin company to obtain product approval in Australia, we will do our best to stand at the center of the global botulinum toxin market beyond holding the title of 'No. 1 domestic market share.'"

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