Daewoong Pharmaceutical's botulinum toxin is expanding its influence in the global toxin market by launching in the Oceania continent, following its presence in North America, South America, Europe, and Asia. Daewoong Pharmaceutical announced on August 19 that it has officially launched its botulinum toxin product in Australia through its global botulinum toxin partner, Evolus. The product will be marketed under the name 'NUCEIVA®' in Australia.
Daewoong's independently developed botulinum toxin product successfully entered the U.S. market in 2019 after receiving FDA approval.
With its high purity and quality, it has now entered five continents: North America, South America, Europe, Asia, and Oceania. In January of last year, Daewoong and Evolus obtained approval for NUCEIVA 100 units from the Australian Therapeutic Goods Administration (TGA). Evolus set up a booth and held a symposium launch event attended by over 200 participants at the 'Aesthetics 2024' held in Sydney, Australia, from August 1 to 4, where they first introduced NUCEIVA to local medical professionals.
Evolus plans to rapidly increase brand awareness through local education and seminars. Dr. Steven Liew, a plastic surgeon in Australia, stated, "There is a growing interest in aesthetics, such as non-surgical procedures, among the younger generation in Australia.
NUCEIVA will offer new options in the beauty field to Australian healthcare providers, helping to achieve optimal results tailored to patient preferences and needs." Park Sung-soo, CEO of Daewoong Pharmaceutical, said, "Entering the Australian market will be a significant momentum for enhancing the global influence of Daewoong's botulinum toxin product. We expect rapid growth in the Australian market through NUCEIVA's excellent product quality and Evolus's differentiated local marketing strategy focusing on the millennial generation.
" Meanwhile, Daewoong's independently developed botulinum toxin is manufactured using patented 'HI-PURETM Technology,' resulting in a premium, high-purity toxin. It's recognized for quick and precise effects and safety against resistance, and has received product approval in 68 countries worldwide, establishing partnerships in over 80 countries. Celebrating its 10th anniversary this year, Daewoong's botulinum toxin has firmly established itself as a leading K-toxin, achieving a 12% market share in the world's largest market, the United States.
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