Daewoong Pharmaceutical secures KRW 34.1 billion export deal for botulinum toxin 인터넷 바카라사이트 in Colombia

[by Kang, In Hyo] Daewoong Pharmaceutical announced on August 26 that it has signed a KRW 34.1 billion (approximately USD 24.5 million) export agreement with Colombian pharmaceutical company Valentech Pharma for 인터넷 바카라사이트, its in-house developed botulinum toxin formulation. Building on successful expansion into major markets such as Brazil, Mexico, and Argentina, the Colombian contract further strengthens 인터넷 바카라사이트's business strategy in Latin America.

According to 2024 data from the International Society of Aesthetic Plastic Surgery (ISAPS), 인터넷 바카라사이트 ranks as the third-largest cosmetic surgery market in Latin America, following Brazil and Mexico. In recent years, the country has also gained prominence as a hub for medical tourism, supported by competitive pricing for cosmetic procedures, robust infrastructure, and advanced medical expertise. The market is viewed as having strong potential, particularly in the segment of non-invasive procedures such as botulinum toxin formulations.

Global market research firm Grand View Research forecasts that Colombia’s non-invasive aesthetic treatment market will expand at a compound annual growth rate (CAGR) of 15.7%, rising from USD 940 million (approximately KRW 1.3 trillion) in 2023 to USD 2.613 billion by 2030.

Valentech Pharma, a pharmaceutical company with extensive experience in rare disease treatments and biosimilar approvals, has recently expanded into the aesthetics sector. Its strong understanding of biopharmaceuticals and regulatory affairs is expected to create synergy for 인터넷 바카라사이트's entry and growth in the Colombian market.

Daewoong Pharmaceutical and Valentech Pharma have validated Nabota’s superior efficacy through a comparative clinical trial against AbbVie's Botox, the leading product in the Colombian market. The two companies plan to capitalize on Nabota's quality competitiveness, already recognized by global regulators including the U.S. Food and Drug Administration (FDA), the European Medicines Agency (EMA), and Health Canada, to drive rapid product launches and sustained sales growth. With targeted local marketing strategies, the companies aim to capture a 30% market share and secure the position of Colombia’s second-largest market player within five years.

"This partnership establishes a foundation for Nabota's expansion in Colombia, one of the leading cosmetic surgery markets in Latin America and a rapidly growing hub for medical tourism. We will work closely with our partners to ensure Nabota is swiftly introduced to Colombian medical professionals and consumers," stated Yun Jun-soo, Head of Daewoong Pharmaceutical's Nabota Business Division.