GC Wellbeing announced on the 22nd that its affiliate Inibio's botulinum toxin product 'Inibo' has obtained a new product license from the Peruvian pharmaceutical regulatory authority. This marks a successful entry into the Latin American market three months after receiving its first overseas approval in Thailand.
Peru is a rapidly growing country in the aesthetic medical market within Latin America. Inibio expects to strengthen the global presence of Inibo through this approval. Previously, the company signed an exclusive supply contract with a Peruvian distributor specializing in aesthetic medical products in 2022.
Inibio is preparing for the launch in the Brazilian market later this year, starting with this approval. Following the recent acquisition of Good Manufacturing Practice (GMP) certification from the Brazilian National Health Surveillance Agency, the company is progressing with the commercialization process.
An Inibio official noted, "With encouraging achievements such as the submission of a New Drug Application (NDA) in China last March and the GMP certification from the Brazilian National Health Surveillance Agency, we successfully completed the formal launch in Thailand. Now, with Peru as the cornerstone of Latin America having received formal approval, we will strive to expand our business in that country and lead the overall global market."