Daewoong Pharma wins permission from Singapore for Nabota

South Korea's drug development company Daewoong Pharmaceutical said on Thursday that it received on Jan. 20 product approval for its botulinum toxin formulation Nabota (overseas brand name: Nuceiva) from Singapore authorities.

The item that received approval this time is Nuceiva 100 units, and Daewoong secured permission 17 months after applying for item approval in Sept. 2021.

Botulinum, commonly referred to as Botox, is a biopharmaceutical that is mainly used for cosmetic surgery such as facial wrinkle improvement.

The company plans to release Nabota in Singapore in the third quarter of this year. Distribution and sales will be handled by the local drug company Hyphens Pharma Pte. Ltd.

Daewoong explained that rapid population aging is underway in Southeast Asian countries and that it will seek gradual expansion to neighboring countries through the latest approval.

"Singapore is a country that has a great influence on the Asian beauty and medical industry. It is not only meaningful in that it was the first Korean botulinum toxin brand to obtain permission in Singapore, but it is also expected that Nabota's market share in Asia will accelerate based on this fact," said Park Seong-soo, vice president of Daewoong Pharmaceutical.

Write to Ji-Hyun Lee at bluesky@hankyung.com