Medytox to enter China’s botulinum toxin market with Newlux
Young-Ae Lee
Oct 25, 2023 (Gmt+09:00)
South Korean pharmaceutical company Medytox Inc. on Tuesday announced its plan to enter the Chinese market for botulinum toxins (BTX) with its cutting-edge product Newlux developed by affiliate Numeco.
Medytox will thus retract its application for imported drug registration for Meditoxin, whose export name is Neuronox, filed in 2018 with the National Medical Products Administration of China.
Given the vast potential of the Chinese market, Medytox said the use of Newlux has strategic advantages over its previous plan like a comprehensive mass production system with cutting-edge manufacturing processes.
Medytox has begun mass production of Newlux, which is approved for use in South Korea, at its Osong Plant III in the town of Osong in Cheongju, North Chungcheong Province, a facility whose output capacity is several times that of its Ochang Plant I in the Cheongju town of Ochang.
The company is also in discussions with foreign pharmaceutical companies to quickly enter the Chinese market.
Exported to many countries, Meditoxin is produced only at the company’s Ochang Plant 1, thus challenges are expected for smooth supply even if China grants approval of the BTX.
“Medytox made a strategic decision to bring Newlux to China to successfully penetrate the global toxin market,” a Medytox source said. “This preemptive measure seeks to form more stable supply chains worldwide to respond to the market.”
“We are in talks with many pharmaceutical companies to allow Newlux, a next-generation BTX developed by Numeco with the latest manufacturing processes, to enter the Chinese market as fast as possible and will expedite negotiations to produce tangible results.”