Daewoong Pharmaceutical's 'Nabota' Obtains Product Approval in Saudi Arabia and Ukraine

Daewoong Pharmaceutical Nabota.

[Asia Economy Reporter Lee Gwan-joo] Daewoong Pharmaceutical announced on the 18th that its botulinum toxin product 'Nabota' recently obtained product approval in Saudi Arabia and Ukraine.

As Saudi Arabia is considered one of the largest markets in the Middle East, Daewoong Pharmaceutical plans to use the Saudi Arabian market as a foothold for expanding sales in the Middle East region.

Additionally, ahead of the European launch scheduled for this year, approvals are continuously being added in European countries outside the EU member states. Ukraine, being a large market in Eastern Europe, is expected to serve as a foundation for expanding Nabota's market share in Europe.

With this product approval, the number of countries where Nabota has entered has increased to 58 worldwide, including North America and Europe, as well as the United States. The company aims to obtain approval in more than 100 countries, including China, in the future.

Park Sung-soo, Vice President of Daewoong Pharmaceutical, said, “Nabota is the first product in Asia to receive FDA approval and has established itself as a global brand approved in over 50 countries. Through successful launches in Europe and other regions planned for this year, we will expand into more than 100 countries worldwide and become a truly global botulinum toxin product.”