Hugel Obtains Approval for 50-Unit Product of Chinese Botulinum Toxin Preparation 'Retibo'

[Asia Economy Reporter Seo So-jeong] Hugel (CEO Son Ji-hoon) announced on the 19th that it has received sales approval from the China National Medical Products Administration (NMPA) for its botulinum toxin product "Letibo" 50 units.

Accordingly, Hugel will be able to sell two sizes, 100 units and 50 units, in China.

Hugel entered the Chinese botulinum toxin market as the first domestic company and the fourth in the world by obtaining product approval for Letibo 100 units in October last year. It shipped export volumes twice, in December last year and on the 2nd of this month.

On the 4th, Hugel held an online launch event and introduced Letibo to the Chinese market for the first time.

Botulinum toxin products, which are involved in muscle relaxation and contraction, are medicines purified from botulinum toxin. Currently, Hugel sells five types domestically: 50 units, 100 units, 150 units, 200 units, and 300 units. The dosage of botulinum toxin products is determined by the treatment area and scope, and can be selected on-site according to the size and purpose of cosmetic or plastic procedures.

A Hugel representative said, "With the sales approval for 50 units, we can meet consumer demand," adding, "Our goal is to achieve a 30% market share within three years."