Daewoong Pharmaceutical said Wednesday its Nabota botulinum toxin demonstrated statistically meaningful results in Phase 3 trials in China, signaling an imminent entry to the market, the second largest botulinum toxin market in the world.
Wrinkle-beating “Boxtox” has been the domain of mid-sized companies. That is about to change as Hugel, Korea’s largest manufacturer of botulinum toxin, popularly known by the Botox brand name, is in play.
After emerging victorious in a protracted trade secrets dispute last year, Medytox has received billions of dollars in license fees and royalty fees and bought a stake in the U.S. botulinum toxin maker Evolus, becoming its second largest stakeholder.
After a two-year investigation, the U.S. International Trade Commission has made a final determination in favor of Medytox in its high-profile “Botox brawl” with Daewoong Pharmaceutical.
Biopharmaceutical company Hugel has started exporting its botulinum toxin to China on Wednesday — the first among Korea’s “Botox” manufacturers to do so.
The Ministry of Food and Drug Safety removed Medytox's sales license for its main botulinum toxin, or Botox products on Thursday. They were responsible for 42.1 percent of Medytox’s sales revenue last year.
Chong 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).