'Nabota' Takes Off in Exports... Surpasses 100 Billion KRW in Sales in Just 3 Quarters

Export Share Exceeds 80% of Sales
Following the US, Expansion into Europe... Also Targeting China

Daewoong Pharmaceutical's botulinum toxin product 'Nabota' (Photo by Daewoong Pharmaceutical)

[Asia Economy Reporter Lee Chun-hee] Daewoong Pharmaceutical's botulinum toxin preparation (BTX) ‘Nabota’ has recorded continuous growth since its launch.

According to Daewoong Pharmaceutical on the 2nd, Nabota achieved sales of 40.4 billion KRW in the third quarter of this year. This is a 93.3% increase compared to 20.9 billion KRW in the same period last year. Additionally, combining sales of 30.7 billion KRW and 37.1 billion KRW in the first and second quarters respectively, it succeeded in achieving cumulative annual sales of 108.2 billion KRW within just three quarters. So far, Nabota is the only domestic BTX to surpass annual sales of 100 billion KRW.

The company emphasizes that over 80% of Nabota’s sales come from exports. The rapid entry into overseas markets as a domestic BTX is evaluated as the driving force behind its steep growth.

In September, Daewoong Pharmaceutical launched Nabota in the UK under the local product name 'Nuceiva' and successfully entered Europe, the world's second-largest BTX market. Among the 650 billion KRW European market, the UK accounts for 30%, making it the largest single market in the region. Also, its local partner Evolus, which operates in advanced countries such as the US and Europe, has secured a strong distribution network locally, giving momentum to Daewoong Pharmaceutical’s expansion of global market share.

Furthermore, as of last month, Nabota has obtained product approval in over 60 countries and signed export contracts with more than 80 countries, continuously increasing its global market share. Daewoong Pharmaceutical plans to enter other European countries such as Germany and Austria, as well as large markets like Australia and New Zealand within this year to further boost Nabota’s sales.

Nabota has also continued its growth in the US since its launch in 2019 under the product name ‘Jeuveau’. The local partner Evolus reported that its second-quarter performance grew by 42% compared to the same period last year.

Daewoong Pharmaceutical's 'Nabota' U.S. launch product 'Jeauveau' (Photo by Daewoong Pharmaceutical)

Daewoong Pharmaceutical plans to maintain this momentum based on Nabota’s technological capabilities. Nabota is currently the only BTX in Asia approved by the US Food and Drug Administration (FDA).

Additionally, among FDA-approved BTXs, it is the only one with the same molecular structure (900kDa) and injection method as Allergan’s original ‘Botox’. This enhances ease of use for medical professionals familiar with Botox, allowing easier access. In terms of actual efficacy, it has proven non-inferiority compared to Botox, and Evolus even announced a post-analysis clinical result showing a 10.1% higher wrinkle improvement effect compared to Botox.

In terms of purity, it reduced impurities and increased purity through the patented ‘High-Pure Technology’ process.

Daewoong Pharmaceutical plans to enter China, the world’s third-largest BTX market following the US and Europe. Despite China’s beauty market having a compound annual growth rate (CAGR) of 30%, the BTX usage rate remains in the 1% range, making it a key market.

Park Sung-soo, Vice President of Daewoong Pharmaceutical, said, “Nabota is the only premium BTX in Asia approved by the FDA,” adding, “Being the first domestic BTX to surpass annual sales of 100 billion KRW is the result of recognition for its excellent product quality and global brand.”