Signed a 5-Year Contract with Local Partner Moksha8
Ten Times Larger Than the First Contract in 2018
Daewoong Pharmaceutical has once again demonstrated its differentiated quality competitiveness and premium brand value by signing the largest botulinum toxin export contract since its entry into Latin America.
On the 14th, Daewoong Pharmaceutical announced that it had signed an export contract worth 180 billion KRW with its local Brazilian partner, Moksha8. The contract period is five years, representing a tenfold increase compared to the first export contract (18 billion KRW) signed with Moksha8 in 2018.
Brazil is the third largest global medical aesthetic market after the United States and China, and it is the country with the highest sales of botulinum toxin in Latin America. According to market research firm Mordor Intelligence, the Brazilian toxin market is expected to grow steadily at an annual rate of 9.7%, reaching approximately 228 million USD (about 330 billion KRW) this year.
Since launching Nabota in Brazil in 2020, Daewoong Pharmaceutical’s partner Moksha8 has successfully expanded its market share through niche marketing that targets rapidly growing dental and aesthetic clinics instead of the already saturated dermatology and plastic surgery markets, based on excellent quality competitiveness.
Starting this year, Daewoong Pharmaceutical is strengthening its focus on Brazil, the largest market in Latin America, by leading with a newly approved 200-unit product lineup obtained last month. Large hospitals and clinics, which see many patients, tend to prefer large-capacity products, so it is expected to meet a wider range of customer needs.
Building on its achievements in Brazil, Daewoong Pharmaceutical plans to further solidify Nabota’s brand recognition throughout Latin America. Daewoong Pharmaceutical’s botulinum toxin has successfully entered major South American markets such as Argentina, Chile, and Peru, and has obtained product approvals in 69 countries worldwide and established partnerships in over 80 countries.
Nabota is a premium botulinum toxin of high purity and quality produced through patented 'HI-PURE™ Technology' in Korea and the United States and a vacuum drying process. With over 98% purity, it acts quickly and accurately, minimizing the generation of inactive toxins that cause resistance through the vacuum drying process.
Daewoong Pharmaceutical’s botulinum toxin was the first in Asia to consecutively obtain product approvals from the U.S. Food and Drug Administration (FDA) and the European Medicines Agency (EMA), proving its quality competitiveness at the cGMP level.
Yoon Joon-soo, Head of Nabota Business Division at Daewoong Pharmaceutical, said, "This contract is the largest since Nabota’s entry into Latin America and demonstrates Nabota’s status and quality competitiveness in the global toxin market. We will continue to expand the Brazilian market and actively target major Latin American countries such as Argentina, Chile, and Peru."
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