Daewoong Pharmaceutical said on the 30th it will export its botulinum toxin Nabota to Mexico. Mexico has the second-largest beauty and plastic surgery market in Latin America after Brazil.
Daewoong Pharmaceutical recently signed an export contract worth 29.5 billion won with its Mexican distribution partner M8. Daewoong Pharmaceutical plans to run a dedicated sales organization locally and provide training programs to medical professionals.
Daewoong Pharmaceutical and M8 have been introducing Nabota in Latin America since 2018. They distribute it not only to dermatology and plastic surgery clinics, but also to aesthetic and dental clinics.
Starting with Panama in 2015, Nabota has expanded into Brazil, Argentina, Colombia, Peru and Chile. Export contracts have been signed in 17 of 20 Latin American countries, and 13 products have been launched.
Yoon Jun-su, head of the Nabota business unit at Daewoong Pharmaceutical, said, "Mexico has a lower rate of aesthetic procedures per capita than Korea, so there is significant room for growth in the toxin market," adding, "based on our experience in Brazil, we will expand Nabota's presence in Mexico."