NABOTA received approval from Thailand

Daewoong Pharmaceutical’s NABOTA received approval from Thailand - NABOTA, a botulinum toxin formulation, developed independently, obtained its first international approval - Daewoong Pharmaceuticals revs up its premium marketing engine to achieve KRW 1 trillion in sales from global market Daewoong Pharmaceutical Co.,Ltd(President: Lee Jong-wook) announced on June 9 that its NABOTA received approval from the Food and Drug Administration of Thailand last month. Having won this approval from Thailand which is one of the Asian countries enforcing rigorous requirements for drug registration, Daewoong Pharmaceutical is expected to be better positioned to tap into Asian export markets. Riding the momentum, Daewoong Pharmaceutical is poised to rev up its premium marketing to make full-fledged inroads into Thailand which is one of the largest cosmetic surgery markets in Asia. Additionally, Daewoong Pharmaceutical’s launching symposium is slated to open in August, targeting about 300 experts of Thailand and VIPs. This symposium will provide unique platform to introduce the procedures gaining widespread acceptance as part of effort to develop various procedures tailored to the needs of Thai consumers and carve out larger share of Thai market. Currently, Thailand has formed a gigantic cosmetic surgery market, and particularly, the botulinum toxin market with many different brands is expanding rapidly. Poised to make foray into Thai market, Daewoong Pharmaceutical will build premium image of NABOTA on the strengths such as the latest patent acquisition, high purity botulinum toxin development, proven track record of export to the United States. Besides, Daewoong Pharmaceutical has invited experts from Thailand to its head office, manufacturing plants, research institutes, etc., in Korea to build up endorsement of NABOTA’s superiority and trumpet its success in tapping into the U.S. market. An official from Daewoong Pharmaceutical said, “We will make utmost effort to take the top spot as undisputed No. 1 leader in major cosmetic surgery markets in Asia by fully leveraging the synergic effects with Filler ‘Perfectha(DNC)’ that has become the top-selling product in Thailand. We have set a target of approximately KRW 10 billion in sales from Thai market by 2015 and KRW 1 trillion from global market within the next decade.” Daewoong Pharmaceutical has signed contracts worth roughly KRW 700 billion to export its NABOTA, a high purity botulinum toxin formulation which is the culmination of the 5-year research effort, to about 60 countries and will receive approval from the Food and Drug Administration of various countries, such as the United States, Europe, Latin America, Middle East, etc., by 2017.

The release as fetched from its publisher. daewoong.co.kr ↗