Hugel Botulinum Toxin Product 'Botulex' Receives Market Authorization in Canada

[Asia Economy Reporter Lee Gwan-joo] Hugel announced on the 16th that it has obtained product approval from Health Canada for the botulinum toxin products ‘Botulex (export name Retivo)’ 50 units and 100 units, indicated for glabellar lines.

Earlier, in November 2019, aiming for Canadian product approval, Hugel completed an on-site inspection of its botulinum toxin production facility at the Geodu plant and submitted the product approval application on June 30 of last year (local time).

With this product approval, Hugel plans to make its first shipment and enter the local market within this year. Distribution and marketing activities locally will be handled by ‘Hugel Aesthetics Canada.’ Hugel Aesthetics Canada is a subsidiary of Hugel’s U.S. corporation ‘Hugel America,’ established in 2018. To enter the local market, Hugel acquired ‘Chroma Canada’ and reorganized it into Hugel Aesthetics Canada following this approval.

The Canadian botulinum toxin market, estimated at approximately 180 billion KRW as of last year, is regarded as a highly promising market expected to grow at an average annual rate of 10% until 2024.

A Hugel official stated, “With this Canadian product approval, Hugel’s pioneering of the North American market has officially begun. Starting with Canada, we also look forward to launching in the U.S. market next year. We will do our best to grow into a global medical aesthetic company dominating the toxin market worldwide, spanning Asia, Europe, and North America.”