South Korea’s Daewoong Pharm said on Wednesday its neurotoxin drug Nabota to treat forehead wrinkles has debuted in Canada under the brand name of Nuceiva, marking the first entry of Korea’s homegrown botulinum toxin into North America which accounts for nearly 70 percent of the global market.

Daewoong Pharm’s exclusive sales partner Evolus received marketing approval of Nuceiva from Health Canada in August 2018. Canada is a leading country in pharmaceutical regulations as Health Canada became the fifth official member to the International Council for Harmonization of Technical Requirements for Pharmaceuticals for Human Use (ICH), the key international standard-setting body comprised of other regulatory authorities and the pharmaceutical industry.

Clarion Medical, a partner company of Evolus, will be responsible for local marketing of Nuceiva in Canada. Clarion Medical is a large medical device company headquartered in Ontario with a strong network in the local cosmetic surgery market.

Canada has only three existing botulinum toxin drugs like the U.S. and they have been around in the market for over 10 years, said Park Sung-soo, head of Daewoong Pharm’s Nabota business, adding the company will seek growth in North America by focusing on superior quality of its new product and strong network of local partners.

Daewoong Pharm’s neurotoxin drug was launched under the brand name of Jeuveau in the U.S. in May and received marketing approval from the European Commission (EC). It is due to be launched across Europe next year under the brand name of Nuceiva.

Shares of Daewoo Pharm finished Thursday 1.3 percent lower at 148,500 won ($125).

By Kim Byung-ho and Minu Kim

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