Daewoong Pharmaceutical (CEO Jeon Seung-ho and Lee Chang-jae) announced on the 5th that it has launched its botulinum toxin ‘Nuceiva’ (Korean product name: Nabota) in the UK last month through its overseas partner Evolus.
With this, Daewoong Pharmaceutical has officially entered Europe, the second largest botulinum toxin market in the world after the United States.
The UK is the largest single market in Europe, accounting for about 30% (about 200 billion won) of the European botulinum toxin market, which is worth 650 billion won per year. Responsible for distribution and marketing.
Evolus has established a specialized distribution network for botulinum toxin by forming a strategic partnership with Wigmore, a local specialist distributor in the UK with a history of over 35 years.
Daewoong Pharmaceutical and Evolus are planning to advance to other highly marketable European countries, such as Germany and Austria, to advance the European market in earnest.
Park Seong-soo, Vice President of Daewoong Pharmaceutical, said: “With the release of Nuciva in the UK, we have officially entered both the US and Europe, the world’s first and second largest botulinum toxin market. As a representative brand. of botulinum toxin, we will take responsibility and help raise the status of K-Bio ”.
