Daewoong Pharmaceutical said that it has received sales approval for its botulinum toxin (BTX) product for treating forehead wrinkles, Nabota, from the United Arab Emirates (UAE) and Indonesian Ministry of Health.
|Daewoong headquarters in Samsung-dong, southern Seoul.|
"Nabota is the first locally developed BTX to obtain product licenses in the UAE and Indonesia, and further solidified its position in the Middle East and Asia following its approval in the U.S., Europe,and Canada," the company said. "The UAE is the first Middle Eastern country that the company has launched Nabota, and we plan to use it as a bridgehead in accelerating the approval for the drug in other Middle Eastern nations.”
Daewoong plans to start marketing Nabota in the UAE and Indonesia during the first half of 2020.
Dansys, its UAE partner, will handle the marketing for the drug. Dansys is an esthetic company with a strong sales network in the Middle East and has more than 10 years of experience in skincare. The company signed an agreement with Dansys in March 2017 as an exclusive supplier in eight Middle East countries, including the UAE and Kuwait.
"Both countries have a growing pharmaceutical market," said Park Sung-soo, head of Daewoong's Nabota business division. "The UAE is a hub country in the Middle East and can serve as a beachhead when entering other regions, while Indonesia has the fourth-largest population in the world and has great growth potential."
In 2020, Nabota will further expand its influence in the global market by strengthening its position in the developed world and by establishing new licenses in the pharmerging markets, Park added.