'Nabota' generated KRW 115.8B over 9 mths in foreign mkt

Nabota generated cumulative sales of KRW 137.8B in Q3, up 22% from last year

84% of the overall sales from exports…expands globally with approvals in 68 countries

Daewoong's Nabota, which contains botulinum toxin, is expanding its presence in the foreign market.

 

Its export amount surpassed KRW 100 billion up to Q3 2024.

 

Over 80% of the overall sales were accounted for by sales generated in the foreign market.

 

It is a cash cow export product.

 

According to Daewoong on November 2, Nabota generated sales of KRW 47.5 billion in Q3, up 25.0% from KRW 38 billion Year-over-Year (YoY).

 

Nabota's domestic sales amounted to KRW 7.2 billion in Q3, down 2.7% from the previous year.

 

The export amount increased to KRW 40.3 billion, up 31.7%.

 

Nabota's cumulative sales were KRW 137.8 billion in Q3, an increase of 21.6% from the previous year.

 

Quarterly Nabota sales trend (unit: KRW 100 million, source: Daewoong).

The export sales of Nabota have significantly increased due to its established credibility in the United States, following Daewoong's settlement with Medytox in a lawsuit for a stolen strain in 2019.

 

In February 2021, Medytox settled a tri-party agreement with Daewoong's U.S.

 

partnering companies, Evolus and AbbVie, for the sales of Nabota (marketed as Jeuveau in the United States) in the United States.

 

Medytox and AbbVie will grant U.S.

 

sales·marketing rights of Jeuveau to Evolus, and they will receive royalty payments.

 

Nabota recorded export sales of KRW 6.4 billion in Q3 2020, an increase of over six-fold in four years.

 

Nabota recorded cumulative export sales of KRW 115.8 billion until Q3 2024, up 23.7% Year-over-Year (YoY).

 

In just 9 months, it nearly reached last year's export sales of KRW 117.4 billion.

 

Export sales account for 84.0% of Nabota sales in Q3.

 

The sales in the foreign market are substantial with continued exports between Q1 and Q3 this year at around 80%.

 

Nabota ranks second in the cosmetic market for botulinum toxin in the United States, with a 13% market share.

 

"In the first half of the year, Nabota's U.S.

 

cosmetic sales surpassed Ipsen France's Dysport," the company said.

 

"Nabota has recorded the highest growth rate among the cosmetic botulinum toxin brands.

 

We continue establishing it as an outstanding brand with the highest quality overseas." In June, Evolus officially launched Nabota in Spain, expanding into the European market.

 

Nabota is marketed as Nuceiva in Europe, and it has been launched in Spain, the UK, Germany, Austria, and Italy, continuing to expand to European countries in addition to the United States.

 

In June, Nabota received marketing authorization from Argentina's National Administration of Drugs, Food and Medical Technology (ANMAT), and in September, it was launched in Malaysia.

 

Nabota received marketing authorization from 68 countries worldwide, and the company has signed partnership agreements with 80 countries.

 

Nabota is nearing its launch into the treatment market, which accounts for half of the global botulinum toxin market.

 

Nabota's U.S.

 

partnering company, iON Pharma, for the treatment indication is speeding up clinical trials for indications such as ▲chronic migraine ▲myotonia ▲gastroparalysis ▲PTSD.

 

Daewoong has begun expanding its product plant ahead of increased demand for Nabota.

 

The company invested KRW 101.4 billion in Hyangnam plant in Hwaseong, Gyeonggi Province to build the third plant with a yearly production size of 13 million vials.

 

The third plant construction will commence in the first half of this year.

 

When the third plant is completed, Daewoong will secure up to 18 million vials production capacity, including a yearly 5 million vials production from plants 1 and 2.

 

"Nabota is a high-purity toxin manufactured using a patented and proprietary 'HI-PURETM Technology.' It provides an advantage of fast and accurate effects and safety towards drug tolerance," said Daewoong representative.