Daewoong Pharmaceutical's 'Nabota' to Enter Turkey and Chile Markets

Daewoong Pharmaceutical Botulinum Toxin Product 'Nabota' (Provided by Daewoong Pharmaceutical)

[Asia Economy Reporter Chunhee Lee] Daewoong Pharmaceutical's botulinum toxin 'Nabota' is accelerating its global expansion into countries such as Turkey and Chile.

Daewoong Pharmaceutical announced on the 30th that it recently obtained product approval for Nabota's indication for glabellar lines in Turkey and Chile. Notably, Nabota is the first domestically produced botulinum toxin product to receive product approval in Turkey.

Daewoong Pharmaceutical plans to launch Nabota in Turkey within the third quarter. As Turkey is a key country connecting Asia and Europe, Daewoong Pharmaceutical intends to use this entry as a stepping stone to accelerate its launch in Europe.

Since Chile is also an advanced country in the field of aesthetic plastic surgery in Latin America, Daewoong Pharmaceutical aims to further strengthen Nabota's position in the Latin American market through this approval. Currently, Nabota has received product approval in 10 Latin American countries, including Mexico, Panama, Bolivia, and Brazil, the largest market in Latin America.

Sales of Nabota in Turkey will be handled by the local partner SELTEK, and sales in Chile will be managed by Torregal. SELTEK is the number one filler company in Turkey, exclusively supplying the filler 'TEOSYAL' within the country. Torregal is an aesthetic specialist company with a solid sales network throughout Chile, making rapid local market development of Nabota expected.

Park Seongsu, head of the Nabota business division at Daewoong Pharmaceutical, said, "Turkey and Chile are countries where the aesthetic plastic surgery market is rapidly growing, and through this approval, we expect to further strengthen Nabota's position as a global brand." He added, "Based on Nabota's excellent product quality proven in developed countries, we will further elevate the status of K-bio."