Huons Global said on the 8th that subsidiary Huons Biopharma obtained marketing authorization for its botulinum toxin product "Hutox" (domestic product name Liztox) from Kuwait's health authorities.
The authorization was achieved through cooperation with local partner "Al Reyada." It is the first case of Huons Biopharma entering a Gulf Cooperation Council (GCC) country. The company plans to use this as a springboard to speed up its expansion in the Middle East market.
Kuwait is considered a market with high demand for beauty and aesthetics among GCC countries. As demand for noninvasive cosmetic procedures grows among high-income consumers, the botulinum toxin market is also on the rise. Another feature is that the market is expanding around dermatology and cosmetic clinics.
Based on this authorization, Huons Biopharma plans to expand into GCC countries such as the United Arab Emirates (UAE), Saudi Arabia, Qatar, Oman and Bahrain. The company said it will strengthen its competitiveness in the global market through authorization strategies and quality control systems tailored to each country's regulations.
To date, the company has obtained marketing authorization for Hutox in 16 countries worldwide. On Jan. 1, it received approval from China's National Medical Products Administration (NMPA), and it is also proceeding with authorization procedures in Latin America, Southeast Asia and the Middle East.
Huons Biopharma CEO Lee Jeong-hee said, "Through this Kuwait marketing authorization, we reconfirmed our capabilities in responding to global regulations and our product competitiveness," adding, "We plan to pursue additional authorizations and expand supply in the GCC and Middle East regions."