Daewoong Pharmaceutical announced on the 7th that it has officially launched its botulinum toxin (botox) product "Nabota" in Ecuador.
Nabota has expanded to 13 major countries out of 20 in Latin America, following its launch in Panama in 2015, and then entering Brazil, Argentina, Chile, and Peru, the largest markets in the region. Recently, it also signed an export contract worth 180 billion won, which is about ten times larger than its previous agreement, with its Brazilian partner Moksha8.
Daewoong Pharmaceutical plans to increase its market share in Ecuador based on the proven quality and sales strategy of Nabota that has already been validated in key markets such as the United States, Europe, Brazil, and Thailand.
To enhance the trust in Nabota among local customers and medical professionals, the company will establish and promote formal distribution channels and also operate training for medical practitioners. Earlier, during the Nabota launch symposium held on the 27th and 28th of last month, over 240 aesthetic surgery professionals from Ecuador attended, where various educational programs on skin boosters and hyaluronic acid (HA) fillers were conducted.
According to Daewoong Pharmaceutical, Nabota is produced through the patented "HI-PURE™ Technology" and a low-pressure drying process, achieving a high purity and quality product of over 98% compared to existing 900 kDa botox formulations. In 2019, it received product approval in 69 countries worldwide, including the United States Food and Drug Administration (FDA), European Medicines Agency (EMA), Health Canada, and Brazil, becoming the first in Asia to do so.
Yoon Joon-soo, head of the Nabota business division at Daewoong Pharmaceutical, noted, "Based on our successful experiences in Latin American countries, including Brazil, and Nabota's world-class quality competitiveness, we will rapidly expand our market in Ecuador."