Daewoong Pharmaceutical to Invest 100 Billion KRW to Build Third Factory for Botulinum Toxin 'Nabota'

Daewoong Pharmaceutical announced on the 2nd that it will build a third factory to expand the business of its botulinum toxin (BTX) 'Nabota' and respond to rising demand. The third factory, with an investment of over 100 billion KRW, will begin construction in the first half of this year in Hyangnam-eup, Hwaseong-si, Gyeonggi-do, and is scheduled to be completed in 2024.

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Nabota is the only botulinum toxin preparation approved by the U.S. Food and Drug Administration (FDA) in Korea and Asia. Exports increased by 123.3% last year compared to the previous year. Daewoong Pharmaceutical expects Nabota’s sales volume to grow at an average annual rate of 20% until 2030, with overseas sales alone exceeding 10 million vials.

Accordingly, Daewoong Pharmaceutical decided to invest more than 100 billion KRW to build the third factory with an annual production capacity of 13 million vials to meet the rising demand for Nabota. Once the third factory is completed, Daewoong Pharmaceutical will secure a maximum production capacity of 18 million vials annually, including the 5 million vials produced by the first and second factories.

Daewoong Pharmaceutical’s Nabota first and second factories have passed the U.S. FDA’s current Good Manufacturing Practice (cGMP) standards, as well as inspections by the European Medicines Agency (EMA) and Health Canada, the three major global regulatory agencies. Daewoong Pharmaceutical plans to transfer all these standards to the third factory and utilize it as a global export forward base.

Park Sung-soo, Vice President of Daewoong Pharmaceutical, said, "Nabota has established a solid position in the global toxin market and is playing a leading role in the export of Korea’s pharmaceutical and bio industries. With the construction of the third factory, we will actively expand Nabota’s business by entering therapeutic indication markets and the Chinese market, as well as developing next-generation formulations, while accelerating the achievement of a 10 trillion KRW business value for Nabota by 2030."

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