Chong Kun Dang enters the botulinum toxin marketChong Kun Dang has entered the Korean botulinum toxin market this month.
The local biopharmaceutical company announced Friday it is launching Wondertox to enter the local botulinum toxin market worth around 100 billion won ($81.6 million).
Wondertox won sales approval from the Ministry of Food and Drug Safety last year as a toxin to reduce wrinkles. Chong Kun Dang has been active in the local cosmetic pharmaceutical market since 2013 with its filler and breast implant products.
Botulinum toxin, best known under Allergan’s brand name Botox, is widely used to paralyze muscles to reduce wrinkles. The local market has been in a turmoil in recent days as the ministry pulled Medytox’s main product off the shelves for using an unapproved ingredient in the manufacturing process.
By Ko Jun-tae