Daewoong wins permission for Nabota in Argentina

South Korea's Daewoong Pharmaceutical Co. announced on Monday that its botulinum toxin Nabota received product approval from Argentina's National Administration of Drugs, Food and Medical Technology (ANMAT) last month.

The Argentine name is Clodew.

Daewoong plans to launch Clodew in Argentina through its local partner Oxapharma in the fourth quarter of this year and will actively engage in brand marketing.

Daewoong explained that this is the first time a domestically produced botox has received product approval in Argentina.

According to Daewoong Pharmaceutical, Argentina is an attractive market, ranking fourth for the average number of botox procedures per capita last year.

However, the company said that entering the market is challenging due to high entry barriers, such as the requirement for Good Manufacturing Practice (GMP) certification from high-surveillance countries recognized by the Argentine government, including the US and Europe.

Write to Young-ae Lee at 0ae@hankyung.com