Daewoong Pharmaceutical's Nabota approved in Saudi Arabia and Ukraine

Daewoong Pharmaceutical's Nabota [DAEWOONG PHARMACEUTICAL]

Daewoong Pharmaceutical's Nabota botulinum toxin won use approval from Saudi Arabia and Ukraine, the Korean company said Wednesday.

Saudi Arabia is one of the biggest botulinum toxin markets in the Middle East, Daewoong said. The company plans to expand its business in the region using Saudi Arabia as its base.

Nabota is exported to a total of 58 jurisdictions, including the United States, Europe and Canada. Daewoong Pharmaceutical aims to enter more than 100 countries by the end of the year.

It is currently waiting for a Nabota use approval from the Chinese health regulator. Daewoong is projecting that will come in the second half.

"Nabota, which was Asia's first product that gained FDA approval, has now been recognized globally as it won approvals from over 50 countries. But Nabota's dream is just hitting its stride," Daewoong Pharmaceutical Vice President Park Seong-soo said. "We will make it a global No. 1 botulinum toxin by entering more than 100 countries this year."

BY SARAH CHEA [chea.sarah@joongang.co.kr]