Daewoong Pharmaceutical Toxin Nabota, H1 Sales 75.3 Billion KRW... "Record High Ever"

Record Half-Year Sales
Top Domestic Toxin Company by Revenue
Nabota Plant 3 Scheduled for Completion by 2024
Accelerating Entry into Treatment Market

Daewoong Pharmaceutical announced on the 27th that the sales of its botulinum toxin (BTX) product Nabota reached 75.3 billion KRW in the first half of this year, setting a new record high. This figure represents the highest sales among domestic botulinum toxin manufacturing companies.

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

Daewoong Pharmaceutical expects the total sales of Nabota for this year to also reach an all-time high. Nabota's sales last year amounted to 142 billion KRW.

Nabota's sales have shown growth every year. Total sales, which were around 50.4 billion KRW in 2020, increased to 79.6 billion KRW in 2021 and 142 billion KRW in 2022, nearly tripling in two years. Overseas sales also more than doubled, rising from 49.2 billion KRW in 2021 to 109.9 billion KRW in 2022.

A distinctive feature of Nabota is the high proportion of overseas sales. Of the 75.3 billion KRW in Nabota sales in the first half of this year, overseas sales accounted for approximately 62.9 billion KRW, about 83%. The share of overseas sales in total sales has been gradually increasing, recording 61% in 2021 and 77% in 2022.

As overseas sales of Nabota increase, Daewoong Pharmaceutical has decided to build a third Nabota plant this year. The currently operating first and second plants are insufficient to meet overseas market demand. The Nabota third plant is scheduled for completion in 2024, and Daewoong Pharmaceutical expects that the annual production volume of Nabota will increase by 260% to 13 million vials after completion.

In February 2019, Daewoong Pharmaceutical became the first in Asia to obtain approval from the U.S. Food and Drug Administration (FDA) for a BTX product. Subsequently, in May of the same year, it began selling Nabota under the name 'Jeuveau' in the U.S. through a partnership with the global company Evolus. Three years later, in 2022, its market share in the U.S. exceeded 10%.

The company is also accelerating its entry into the European and global markets. In June, Evolus launched 'Nuceiva' (the European product name) in Italy, following the UK, Germany, and Austria. Launches in the Chinese and Australian markets are planned for 2024.

Preparations are also underway to enter the therapeutic market, which holds a significant share in the global BTX market. Ionis Biopharma, Nabota's therapeutic market partner in the U.S., recently received a U.S. patent for a 'neurotoxin composition for migraine treatment.' The patent recognizes improvements in convenience and reduction of side effects by reducing the number of administrations and changing the injection sites compared to existing BTX products. This patent grants exclusive rights in the U.S. until 2041.

The global BTX market is valued at 6.5 billion USD (approximately 8.3 trillion KRW). The BTX market is divided into the aesthetic and therapeutic markets, with the therapeutic market accounting for 53%, more than half. Currently, AbbVie holds a 95% market share in the BTX therapeutic market.

Seongsu Park, Vice President of Daewoong Pharmaceutical, stated, "Daewoong Pharmaceutical's Nabota has finally achieved the number one sales position among Korean botulinum toxin manufacturers through its strong performance in the first half of this year. We will grow into a leading global toxin brand by entering not only the rapidly growing aesthetic market but also the global therapeutic market in a short period."

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