이 누리집은 대한민국 공식 전자정부 누리집입니다.

한상넷

비즈니스 정보

Biz News Korea(Eng)

Daewoong Pharm inks contracts to export botulinum toxin to Brazil and Egypt

Collected: 2018.01.29

Distributed: 2018.01.30

Source: Go Direct

[Photo provided by Daewoong Pharm]

South Korea’s Daewoong Pharm Monday announced it has signed contracts to export its botulinum toxin Nabota to Brazil and Egypt.

Daewoong will provide Nabota worth about $16 million to Brazilian pharmaceutical company Moksha8 over the next five years.

The toxin, better known as botox, is used for anti-wrinkle treatments and facelifts.

At 2:40 pm, shares of Daewoong Pharm were up 0.58 percent at 172,000 won ($161).

Moksha8 headquartered in the U.S. is one of the key providers of central nervous system medicines in Mexico and Brazil and has partnered with multinational pharmaceutical companies such as Pfizer, GSK and MSD.

Moksha8 will be responsible for regulatory approval and marketing of Nabota for therapeutic purposes in Brazil and its affiliated company GCAesthetic for marketing of the drug for cosmetic purposes. GCAesthetic is a leading player in the Brazilian breast implant market.

Daewoong Pharm will also provide Nabota worth $5 million to Egypt over the next five years through EIMS Company, an Egyptian beauty product provider that has established a robust network with many local hospitals and clinics.

"The export contracts will help Daewoong Pharm to further strengthen its position in the global market,” said a company official.

By Kim Hye-soon and Minu Kim

Read in Korean

List

Previous: Koreans top brands dominate U.S. white goods market despite safeguard

Next: Korea’s LG Hausys named China’s top 10 green construction materials firms