Medytox Obtains Marketing Approval for 'Medytoxyn' in Taiwan... "Targeting the Overseas Chinese Market"

Official Approval Granted for Commercial Sale of Meditoxin 100 and 200 Units

[Asia Economy Reporter Kim Ji-hee] Medytox is set to officially enter the market after obtaining approval for the sale of 'Medytoxyn' in Taiwan.

On the 25th, Medytox announced that it received official approval on the 24th from the Taiwan Food and Drug Administration (TFDA) for the sale of the botulinum toxin product 'Medytoxyn' (export name NeuroNox) in 100-unit and 200-unit doses.

Medytox has established a joint venture called 'Medytox Taiwan' with Taiwanese medical device company DMT to strengthen brand awareness. With this approval, Medytox and DMT plan to officially launch the botulinum toxin product 'Medytoxyn' and the hyaluronic acid filler 'Neuramis Volume Lidocaine,' which was approved last year, within this year, focusing on securing the Southeast Asian Chinese diaspora market centered on Taiwan.

According to the 2016 KOTRA (Korea Trade-Investment Promotion Agency) 'Taiwan Entry Strategy Report,' Taiwan is considered an important hub country for entering the Southeast Asian Chinese diaspora economic zone. In particular, the asset size of the Southeast Asian Chinese diaspora accounts for two-thirds of the global Chinese diaspora assets, significantly influencing the entire Southeast Asian industry and trade.

A Medytox representative said, "The acquisition of this approval is highly significant as it marks the full-scale entry of Medytox's toxin and filler products into Taiwan. Success in Taiwan, which has close ties to the Southeast Asian Chinese diaspora economic zone, can serve as a catalyst for explosive growth in the Southeast Asian market. Therefore, we will aggressively implement locally tailored marketing together with DMT, which has outstanding capabilities in the Taiwanese aesthetic plastic surgery market."