– A sales contract valued at approximately KRW 100 billion was inked to supply NABOTA for the next 5 years after 2014
– Using this contract with Pharmavital as springboard, Daewoong Pharmaceutical gains a bridgehead into 15 Latin American countries, such as Brazil and Mexico
SEOUL, Korea I December 3, 2013 I Daewoong Pharmaceutical will move beyond the United States and Europe to make foray into the Latin America, the world’s second largest beauty market, with the launch of its NABOTA.
Daewoong Pharmaceutical Co.,Ltd(President: Lee Jong-wook) penned a contract worth approximately KRW 100 billion with the global aesthetic company Pharmavital to supply its NABOTA, the botulinum toxin formulation, at Seoul Intercontinental Hotel on December 2.
Having signed this contract, Daewoong Pharmaceutical will market its NABOTA in 15 countries of Latin Amercia, including Mexico, Colombia, Venezuela, and Brazil, the largest market in Latin America, consecutively from 2014 to 2016, and will supply NABOTA for 5 years after its roll-out in each country. NABOTA will expand its reach into Latin America, the world’s second largest beauty market, as well as the U.S. and European markets, thus opening up the global beauty market.
Kim Cheong-se, the Chief Researcher at the Research Division of Daewoong Pharmaceutical, said, “It is very encouraging that NABOTA, developed by indigenous technology, is poised to gain ground in Latin America, the second largest beauty market in the world, as well as the developed countries. We will fully leverage our technological prowess to develop excellent quality products that can be well-received in the global market.”
Pharmavita, a global aesthetic company headquartered in Panama, has the manufacturing plant in Lyon, French, and is currently exporting the Perfectha filler, the world’s fourth best-selling product, to about 70 countries. Latin America is riding on double-digit growth path, and is a major emerging market that attracts global giant companies from around the world.
Jamel Fares, President of Pharmavital, said, “Daewoong Pharmaceutical’s NABOTA has an excellent quality comparable to that of the locally available products marketed by global giants operating in Latin America. I anticipate that this contract signed with Daewoong Pharmaceutical will create the synergic effects from the buildup of distribution channels for the filler and botulinum toxin formulation.
NABOTA is the high-purity botulinum toxin product developed independently by Daewoong Pharmaceutical and minimized the side effect that may be caused by the diffusion into other tissues from the site of injection. Daewoong Pharmaceutical entered into an export contract worth about KRW 300 billion with the U.S.-based Evolus in September. On November 29, Daewoong Pharmaceutical obtained the approval of the Ministry of Food and Drug Safety for NABOTA slated for release in domestic market from March next year.
SOURCE: Daewoong Pharmaceuticals
Post Views: 121
– A sales contract valued at approximately KRW 100 billion was inked to supply NABOTA for the next 5 years after 2014
– Using this contract with Pharmavital as springboard, Daewoong Pharmaceutical gains a bridgehead into 15 Latin American countries, such as Brazil and Mexico
SEOUL, Korea I December 3, 2013 I Daewoong Pharmaceutical will move beyond the United States and Europe to make foray into the Latin America, the world’s second largest beauty market, with the launch of its NABOTA.
Daewoong Pharmaceutical Co.,Ltd(President: Lee Jong-wook) penned a contract worth approximately KRW 100 billion with the global aesthetic company Pharmavital to supply its NABOTA, the botulinum toxin formulation, at Seoul Intercontinental Hotel on December 2.
Having signed this contract, Daewoong Pharmaceutical will market its NABOTA in 15 countries of Latin Amercia, including Mexico, Colombia, Venezuela, and Brazil, the largest market in Latin America, consecutively from 2014 to 2016, and will supply NABOTA for 5 years after its roll-out in each country. NABOTA will expand its reach into Latin America, the world’s second largest beauty market, as well as the U.S. and European markets, thus opening up the global beauty market.
Kim Cheong-se, the Chief Researcher at the Research Division of Daewoong Pharmaceutical, said, “It is very encouraging that NABOTA, developed by indigenous technology, is poised to gain ground in Latin America, the second largest beauty market in the world, as well as the developed countries. We will fully leverage our technological prowess to develop excellent quality products that can be well-received in the global market.”
Pharmavita, a global aesthetic company headquartered in Panama, has the manufacturing plant in Lyon, French, and is currently exporting the Perfectha filler, the world’s fourth best-selling product, to about 70 countries. Latin America is riding on double-digit growth path, and is a major emerging market that attracts global giant companies from around the world.
Jamel Fares, President of Pharmavital, said, “Daewoong Pharmaceutical’s NABOTA has an excellent quality comparable to that of the locally available products marketed by global giants operating in Latin America. I anticipate that this contract signed with Daewoong Pharmaceutical will create the synergic effects from the buildup of distribution channels for the filler and botulinum toxin formulation.
NABOTA is the high-purity botulinum toxin product developed independently by Daewoong Pharmaceutical and minimized the side effect that may be caused by the diffusion into other tissues from the site of injection. Daewoong Pharmaceutical entered into an export contract worth about KRW 300 billion with the U.S.-based Evolus in September. On November 29, Daewoong Pharmaceutical obtained the approval of the Ministry of Food and Drug Safety for NABOTA slated for release in domestic market from March next year.
SOURCE: Daewoong Pharmaceuticals
Post Views: 121
