Daewoong Pharmaceutical's Nabota Thrives Globally... "83% of Sales from Overseas Markets"

Q3 Cumulative Sales of 113.3 Billion KRW... Global Sales of 93.5 Billion KRW
11% Share in US Beauty Toxin Market

Daewoong Pharmaceutical announced on the 14th that out of the cumulative sales of 113.3 billion KRW for Nabota up to the third quarter of this year, overseas sales accounted for 93.5 billion KRW, representing 83% of the total. Nabota continues to hold the record as the number one exporter of domestic botulinum toxin (BTX) products.

Daewoong Pharmaceutical Nabota.
Photo by Daewoong Pharmaceutical

According to Daewoong Pharmaceutical, more than half of Nabota's global sales of 93.5 billion KRW, specifically 44.5 billion KRW, were generated in the U.S. market. Daewoong Pharmaceutical began full-scale sales of Nabota (marketed as 'Jeuveau' in the U.S.) in the United States through its local partner Evolus in 2020. Within just over two years since its local launch, Nabota has grown to capture an 11% share of the U.S. aesthetic toxin market. The proportion of Nabota’s overseas sales has shown an upward trend: 61% in 2021, 77% in 2022, and 83% by the third quarter of 2023.

Daewoong Pharmaceutical attributes this achievement to its 'long-standing experience.' The company first introduced Allergan’s original botulinum toxin product 'Botox' to the domestic market in 1995 and handled its distribution until Allergan began direct distribution in Korea in 2009. Even after re-entering the market later with its own developed product Nabota, Daewoong Pharmaceutical explains that this extensive experience has been key to achieving such results.

After launching Nabota domestically in 2014, Daewoong Pharmaceutical applied for U.S. Food and Drug Administration (FDA) approval in 2017, three years later, and completed the current Good Manufacturing Practice (cGMP) certification. In 2019, Nabota became the only product in Asia to receive FDA approval. Daewoong Pharmaceutical recorded its highest-ever cumulative sales of 902.4 billion KRW in the first three quarters of this year, with operating profit exceeding 100 billion KRW.

Nabota has accelerated its entry into the European market with official launches in Germany, Austria, and Italy this year. It is also expanding into major markets on each continent such as Thailand and Brazil, and recently obtained product approval in Malaysia, a key Islamic country, targeting the Muslim market of approximately 2 billion people. Daewoong Pharmaceutical expects Nabota’s sales volume to grow at an average annual rate of 20% until 2030, with overseas exports surpassing 500 billion KRW.

Park Sung-soo, Vice President of Daewoong Pharmaceutical and head of the Nabota business, stated, "By developing Nabota while simultaneously establishing a strategy to enter the largest market, the U.S., and quickly obtaining FDA approval, Daewoong Pharmaceutical has once again taken the lead in the domestic botulinum toxin industry. We will expand not only in the aesthetic market but also in the therapeutic market to grow Nabota into a global top 5 toxin brand."

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