Daewoong Pharmaceutical's Nabota Obtains Approval in Malaysia... Targeting the 2 Billion Muslim Market

Obtained Product Approval from Malaysia National Pharmaceutical Regulatory Agency

Daewoong Pharmaceutical announced on the 1st that its botulinum toxin (BTX) product 'Nabota' obtained marketing authorization from Malaysia's National Pharmaceutical Regulatory Agency (NPRA) on the 30th of last month.

Daewoong Pharmaceutical's botulinum toxin product Nabota.
[Photo by Daewoong Pharmaceutical]

The dosage approved by the local authorities this time is Nabota 100 units. Local distribution and sales will be handled by Hyphens Pharma. Hyphens Pharma's parent company, Hyphens Group, is a company listed on the Singapore Exchange (SGX) and is a Southeast Asian market-specialized pharmaceutical and healthcare group with subsidiaries in six ASEAN countries.

Malaysia, along with Indonesia, is one of the major Islamic countries representing Southeast Asia, with an economic activity population ratio exceeding 70%. Daewoong Pharmaceutical explained that due to rapid population growth and the rise of a purchasing-powerful middle class, purchasing power is expected to gradually increase. According to the global market research firm Insight Partners, the Malaysian toxin market is projected to grow at a high annual rate of 15.6% until 2028.

Daewoong Pharmaceutical and Hyphens Pharma plan to actively utilize social media campaigns and mobile advertisements tailored to the characteristics of the Malaysian market, where the young consumer base and middle class are expanding, to promote the strengths of Nabota.

Park Sung-soo, Vice President of Daewoong Pharmaceutical, said, "We pioneered the domestic botulinum toxin market by introducing Botox in 1995 and developed Nabota independently, which has grown into a global leading toxin brand authorized in 66 countries to date. We will successfully establish Nabota in Malaysia and target the Muslim market of 2 billion people to make Nabota the global No. 1 toxin."

Meanwhile, as of last month, Nabota has obtained approval in 66 countries worldwide, including the United States and Europe. Launch in Australia is planned for 2024, and approval procedures are also underway in China.

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