Daewoong Pharmaceutical is expanding its market presence in the Middle East with its botulinum toxin product, Nabota. With its entry into Kuwait, the company has launched its product in a total of seven countries, setting a record for the most extensive reach among K-toxins.
On July 30, Daewoong Pharmaceutical announced that it has begun supplying its premium botulinum toxin Nabota to Kuwait. This expansion brings Nabota to a total of seven countries, including Saudi Arabia, the United Arab Emirates (UAE), Turkey, Qatar, Egypt, and Bahrain.
Botulinum toxin is a medication used to temporarily relax muscles for wrinkle reduction and jawline treatments. With this expansion, Nabota has established itself as a leading domestic toxin in the premium aesthetic market in the Middle East, including the Gulf Cooperation Council (GCC) region.
The GCC is a coalition of six oil-producing countries: Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, and Oman, where high per capita income and consumer spending power are driving rapid growth in demand for premium aesthetic procedures.
Kuwait has a botulinum toxin market valued at approximately 24 billion won and is considered a high-end market with a preference for premium products. The region is also characterized by active online and offline promotion of medical products, leading to intense competition among global aesthetic companies.
Daewoong Pharmaceutical plans to officially launch Nabota in October in collaboration with local partners and will hold a launch symposium. About 200 medical professionals, including key opinion leaders from the government and private sectors, are expected to attend, with a Korean dermatologist sharing clinical experiences as a speaker.
Additionally, the company aims to enhance local clinical experience and strengthen its medical network through nationwide sales and marketing activities, participation in major conferences, and cadaver courses for medical training.
Yoon Jun-soo, head of Daewoong Pharmaceutical's Nabota business division, stated, "The entry into Kuwait is a significant milestone for Nabota's global premium brand advancement. We will focus our efforts on establishing Nabota as a representative toxin of Korea in the Middle East market."
Meanwhile, Daewoong Pharmaceutical reported improved performance in the second quarter of this year, driven by increased sales of its flagship product, Nabota, in the United States. The company announced that its second-quarter revenue and operating profit reached 400.1 billion won and 77.1 billion won, respectively, marking increases of 10% and 23.4% compared to the same period last year. In the second quarter of the previous year, the company recorded revenues of 363.9 billion won and an operating profit of 62.5 billion won.
On July 30, Daewoong Pharmaceutical announced that it has begun supplying its premium botulinum toxin Nabota to Kuwait. This expansion brings Nabota to a total of seven countries, including Saudi Arabia, the United Arab Emirates (UAE), Turkey, Qatar, Egypt, and Bahrain.
Botulinum toxin is a medication used to temporarily relax muscles for wrinkle reduction and jawline treatments. With this expansion, Nabota has established itself as a leading domestic toxin in the premium aesthetic market in the Middle East, including the Gulf Cooperation Council (GCC) region.
The GCC is a coalition of six oil-producing countries: Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, and Oman, where high per capita income and consumer spending power are driving rapid growth in demand for premium aesthetic procedures.
Kuwait has a botulinum toxin market valued at approximately 24 billion won and is considered a high-end market with a preference for premium products. The region is also characterized by active online and offline promotion of medical products, leading to intense competition among global aesthetic companies.
Daewoong Pharmaceutical plans to officially launch Nabota in October in collaboration with local partners and will hold a launch symposium. About 200 medical professionals, including key opinion leaders from the government and private sectors, are expected to attend, with a Korean dermatologist sharing clinical experiences as a speaker.
Additionally, the company aims to enhance local clinical experience and strengthen its medical network through nationwide sales and marketing activities, participation in major conferences, and cadaver courses for medical training.
Yoon Jun-soo, head of Daewoong Pharmaceutical's Nabota business division, stated, "The entry into Kuwait is a significant milestone for Nabota's global premium brand advancement. We will focus our efforts on establishing Nabota as a representative toxin of Korea in the Middle East market."
Meanwhile, Daewoong Pharmaceutical reported improved performance in the second quarter of this year, driven by increased sales of its flagship product, Nabota, in the United States. The company announced that its second-quarter revenue and operating profit reached 400.1 billion won and 77.1 billion won, respectively, marking increases of 10% and 23.4% compared to the same period last year. In the second quarter of the previous year, the company recorded revenues of 363.9 billion won and an operating profit of 62.5 billion won.
* This article has been translated by AI.
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