[
THE INVESTOR]
Daewoong Pharmaceutical announced on Sept. 21 that its botulinum toxin Nabota has been granted approval in Mexico and India.
The South Korean pharmaceutical company aims to launch the formula in both countries by 2017. It will strengthen its presence in South America where its neurotoxin, commonly known as Botox injected for cosmetological applications, is already sold in six countries including Panama and Guatemala.
Nabota was introduced in South Korea in 2014 and the company has orders from more than 60 countries to supply the product worth 700 billion won (US$626.40 million) so far.
Daewoong, the country’s fourth largest pharmaceutical company, will seek approval from the US Food and Drug Administration within this year.
By Hwang You-mee (
glamazon@heraldcorp.com)
