Daewoong Pharmaceutical launched Nabota in Ecuador, marking its entry into 13 Latin American countries. They aim to position Nabota as a premium product while expanding through partnerships and educational programs. Attended by medical professionals, the launch highlighted the product’s quality and market potential in the region.
On March 7, Daewoong Pharmaceutical announced the official launch of its botulinum toxin brand, Nabota, in Ecuador, thereby enhancing its foothold in the Latin American market. Following the launch, the company hosted symposiums in Guayaquil and Quito on March 27 and 28, marking Nabota’s entry into 13 of the 20 Latin American countries.
Nabota commenced its expansion in Panama in 2015 and subsequently established a presence in significant markets such as Brazil, Argentina, Chile, and Peru. The company recently entered into an export contract valued at 180 billion KRW with Brazilian partner Moksha8, representing a tenfold increase compared to their previous agreement.
Daewoong Pharmaceutical aims to position Nabota as a premium offering in Ecuador, capitalizing on the product’s proven quality and sales success recognized in the U.S., Europe, Brazil, and Thailand. The company’s strategy entails building reliable distribution networks, providing medical training, and introducing reward programs to cultivate lasting relationships with customers and gain the endorsement of local medical practitioners.
The launch symposium witnessed participation from over 240 medical professionals specializing in aesthetic and plastic surgery, with invitations extended to key opinion leaders (KOLs) from the region. Various educational sessions were conducted focused on Nabota, skin boosters, and hyaluronic acid (HA) fillers.
Brazilian plastic surgeon Jacqueline Barreto Rodrigues commended Nabota, stating, “With a purity level of over 98%, it minimizes impurities, resulting in lower tolerance levels and allowing for accurate prediction of treatment effects by dosage. It is an optimized product that meets diverse patient needs, from glabellar lines to facial contouring.”
Daewoong’s botulinum toxin utilizes patented HI-PURE™ Technology combined with low-pressure drying processes, achieving over 98% purity in 900 kDa complexes that ensure swift and precise effects. In 2019, the product was the first in Asia to receive FDA approval, further affirming its competitive edge.
The botulinum toxin has also been authorized by the FDA, the European Medicines Agency (EMA), Health Canada, Brazil, and 69 additional nations, broadening its global impact through collaborations in over 80 countries. “Based on our successful experiences in Latin American countries, including Brazil, and the world-class quality competitiveness of Nabota, we will rapidly expand our market presence in Ecuador as well,” stated Yoon Jun-soo, head of Daewoong Pharmaceutical’s Nabota division. He added that the company will pursue the expansion of treatment indications and entry into the public procurement market with the goal of achieving “one product, one trillion KRW in revenue.”
The successful launch of Nabota in Ecuador is a significant milestone for Daewoong Pharmaceutical, marking its entry into the 13th Latin American country. The company aims to establish Nabota as a premium product through strategic partnerships, educational initiatives, and enhanced distribution channels. With a commitment to high quality and potential for extensive market expansion, Daewoong is poised for further growth in both Ecuador and the broader Latin American market.
Original Source: www.koreaittimes.com
