November 21, 2024

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Daewoong Pharmaceutical's botulinum toxin Nuceiva (Daewoong Pharmaceutical)

Daewoong Pharmaceutical, South Korea’s leading drug maker, announced Monday the company officially launched its botulinum toxin, dubbed Nuceiva, in Australia in partnership with a Nasdaq-listed US company Evolus.

Oceania is the fifth continent Daewoo Pharmaceutical has entered, after North America, South America, Europe and Asia, with its self-developed botulinum toxin.

“Our market penetration into Australia will allow us to build on the momentum of expanding presence in the global market. We are slated to raise brand awareness in Australia by targeting millennials in collaboration with Evolus,” said Park Seong-soo, CEO of Daewoong Pharmaceutical.

Evolus unveiled Nuceiva to local medical personnel in Sidney for the first time on Aug. 1 during a launch symposium at the “Aesthetics 2024” event.

One of the event participants, Dr. Steven Liew, an Australian specialist plastic surgeon, pointed out that the younger generation’s interest in beauty care including non-surgical treatment has been increasing. Liew said Nuceiva would open up new beauty care options to local medical staff.

Daewoong has increased the market share of its botulinum toxin by 12 percent since it first released the product in 2014 under the name of Nabota.

“Nuceiva is a premium high-purity toxin product manufactured by the patented process, Hi-Pure Technology. With effectiveness and safety against resistance, we have got permission from 68 countries around the world to export our items and signed partnership agreements with some 80 countries,” said a Daewoong official.

By Park Min-ha (en23mp@heraldcorp.com)