À̹ÌÁö È®´ë [Photo provided by Daewoong Pharmaceutical Co.]
South Korea¡¯s Daewoong Pharmaceutical Co. said Monday it has received marketing approval from Health Canada over its self-developed botulinum toxin Nabota to improve glabellar wrinkles.
The approval comes about 12 months after the healthcare company submitted an application for regulatory approval in Canada. It marks the company¡¯s first pharmaceutical product in an advanced economy and Korea¡¯s first homegrown botox approved in Canada.
Daewoong Pharm shares gained 2.89 percent and closed at 195,500 won ($174.01) in Seoul trading on Monday.
Daewoong Pharm is set to begin commercial sales of Nabota across Canada in the first half of next year through Clarion Medical, the Canadian partner company of Evolus, the North American partner of Daewoong Pharm. Clarion Medical headquartered in Ontario is a medical device specialist dedicated to cosmetic surgery.
The latest approval demonstrates Nabota¡¯s quality, safety and efficacy recognized by an advanced market and the entry into Canada will help speed up market penetration in North America, Daewoong Pharm said.
By Shin Chan-ok and Minu Kim
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