South Korea’s Medytox said on Monday it recently received back-to-back marketing approvals of botulinum toxin type A Meditoxin in Malaysia and Saudi Arabia under the brand name of Neuronox, and hyaluronic acid filler Neuramis in Brazil and the Philippines.

Malaysia and Saudi Arabia are Islamic countries where demand for aesthetic procedures is growing in the middle class. Medytox plans to leverage the two countries as a base for expanding its market presence into other Islamic counties.

Shares of Medytox fell 2 percent to close Monday at 241,200 won ($203)

With approval of Neuramis in Brazil and the Philippines, the filler product now sells in 44 countries around the world. Medytox expects that it will maximize synergy in the aesthetic field based on the recognition of Meditoxin, which has achieved a 40 percent market share in Brazil after four years of launch. The company also aims to get marketing approval of Neuramis in Taiwan, Mexico, and El Salvador within this year.

Medytox said it has built reputation as a leading R&D company with the world’s unique three botox products in its portfolio – Meditoxin, Innotox, and Coretox, and it is placing top priority on expanding into the global market to ensure sustained organic growth and brand enhancement.

Medytox also said Phase 3 trials of its new botox product Innotox are closing to the final stage in the U.S. and its partner Allergan will be able to file a biological license application (BLA) with the FDA for approval early next year.

Medytox and Allergan signed a joint development agreement over Innotox in 2013. Medytox recently received $20 million as a milestone related to Innotox`s Phase 3 study from Allergan.

By Kim Si-gyun and Minu Kim

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