– Daewoong Pharmaceutical inked a contract with U.S.-based Evolus to export Nabota(tentatively named), the botulinum toxin formulation
– Nabota will be released in U.S. market upon completion of licensing procedures by 2017
– The contract is worth about KRW 300 billion based on five-year export value, including technical fees
SEOUL, Korea I October 1, 2013 I This contract confers on Evolus the exclusive right to supply and distribute Nabota(tentatively named) in the United States and Europe. This contract is worth approximately KRW 300 billion based on the five-year export value including the technical fees, which is the single largest export contract and paves the way for Daewoong Pharmaceutical to make inroads into developed countries.
Slated for release in the second half of 2017 in the United States and Europe, Nabota(tentatively named) is the high-purity botulinum toxin product developed by the independent technology of Daewoong Pharmaceutical and successfully completed non-clinical and clinical three-phase trials. Currently, the related U.S. and European markets are worth in excess of KRW 2 trillion, growing at an annual rate of 11%.
Park In-seok, Director General of Health Industry Policy, Ministry of Health and Welfare, said in his congratulatory speech at the contract-signing ceremony, “This contract attest to the relentless innovation and aggressive strategy pushed forward by Daewoong Pharmaceutical, along with its intensive investment in R&D. The government will provide unsparing support vital for domestic pharmaceutical companies to advance into global market.”
Lee Jong-wook, President of Daewoong Pharmaceutical, said, “It is very encouraging that the botulinum toxin formulation, developed with indigenous technology, is supplied to the developed countries. We will make unsparing investment in R&D to help improve the quality of lives for the people around the globe by fully leveraging our world-leading novel technologies.”
Christopher Marmo, President of Evolus, said, “I am sure that Nabota has excellent quality and will be the botulinum toxin product that can gain ground most successfully in the U.S. and European markets. We are very lucky to partner with Daewoong Pharmaceutical.”
Evolus, a bio-venture company co-founded by experts from the original developer of Botox and renowned U.S. plastic surgeons, will release Nabota(tentatively named) after the large-scale multinational clinical trial in the United States and Europe.
SOURCE: Daewoong Pharmaceutical
Post Views: 177
– Daewoong Pharmaceutical inked a contract with U.S.-based Evolus to export Nabota(tentatively named), the botulinum toxin formulation
– Nabota will be released in U.S. market upon completion of licensing procedures by 2017
– The contract is worth about KRW 300 billion based on five-year export value, including technical fees
SEOUL, Korea I October 1, 2013 I This contract confers on Evolus the exclusive right to supply and distribute Nabota(tentatively named) in the United States and Europe. This contract is worth approximately KRW 300 billion based on the five-year export value including the technical fees, which is the single largest export contract and paves the way for Daewoong Pharmaceutical to make inroads into developed countries.
Slated for release in the second half of 2017 in the United States and Europe, Nabota(tentatively named) is the high-purity botulinum toxin product developed by the independent technology of Daewoong Pharmaceutical and successfully completed non-clinical and clinical three-phase trials. Currently, the related U.S. and European markets are worth in excess of KRW 2 trillion, growing at an annual rate of 11%.
Park In-seok, Director General of Health Industry Policy, Ministry of Health and Welfare, said in his congratulatory speech at the contract-signing ceremony, “This contract attest to the relentless innovation and aggressive strategy pushed forward by Daewoong Pharmaceutical, along with its intensive investment in R&D. The government will provide unsparing support vital for domestic pharmaceutical companies to advance into global market.”
Lee Jong-wook, President of Daewoong Pharmaceutical, said, “It is very encouraging that the botulinum toxin formulation, developed with indigenous technology, is supplied to the developed countries. We will make unsparing investment in R&D to help improve the quality of lives for the people around the globe by fully leveraging our world-leading novel technologies.”
Christopher Marmo, President of Evolus, said, “I am sure that Nabota has excellent quality and will be the botulinum toxin product that can gain ground most successfully in the U.S. and European markets. We are very lucky to partner with Daewoong Pharmaceutical.”
Evolus, a bio-venture company co-founded by experts from the original developer of Botox and renowned U.S. plastic surgeons, will release Nabota(tentatively named) after the large-scale multinational clinical trial in the United States and Europe.
SOURCE: Daewoong Pharmaceutical
Post Views: 177
