South Korea’s Daewoong Pharmaceutical said on Thursday it has received marketing approval of Nabota in Brazil, selling the neurotoxin product across the country for the indication of improving glabellar wrinkles and stiff muscles after stroke.

The latest approval marks the company’s access to the largest consumer market in Latin America, where it has so far obtained its ninth license for the product.

Daewoong said initial shipment to Brazil will begin in the first half of this year with its partner m8 Pharmaceutical (formerly moksha8) responsible for local distribution.

m8 Pharmaceutical is a specialty pharmaceutical company focused on licensing, marketing and distributing therapeutics in Brazil and Mexico.

The local partner is also responsible for direct sales of Nabota for therapeutic purposes in Brazil, while Daewoong’s unnamed another partner will cover marketing of the product in the cosmetic and beauty sector.

In Brazil, the botox-based therapeutic market is as large as the cosmetic market and Nabota’s availability in these two markets will lead to its fast growth, said Park Sung-soo, head of the company’s Nabota business.

Nabota independently manufactured and supplied by Daewoong Pharmaceutical has been approved in 51 countries around the world with sales agreements and commitments in 80 countries.

By Pulse

[ⓒ Pulse by Maeil Business Newspaper & mk.co.kr, All rights reserved]