- Obtained marketing approval on the 23rd (local
time) from the Therapeutic Goods Administration (TGA) of
Australia for the indication of
glabellar lines
- First shipment and local launch planned for Q1 2023...Plans
to cooperate with major chain clinics and key opinion
leaders
SEOUL,
South Korea, Nov. 24,
2022 /PRNewswire/ -- Hugel, a global total medical
aesthetics company (CEO: Ji-hoon Sohn), announced on November 24th that they obtained
marketing approval for 50 and 100 units of its botulinum toxin
called 'Letybo' for the indication of glabellar lines from the
Therapeutic Goods Administration (TGA) of Australia on the 23rd (local
time).
Australia is one of the top 10
countries for aesthetic procedures. Botulinum toxin accounts for
the largest proportion (41%) as a non-surgical aesthetic procedure,
and the per capita treatment rate is known to be higher than that
of the United States. The market
size is estimated to be about KRW100bn as of 2022, and it is evaluated as a
high potential market with annual growth of about 7% by 2025.
Hugel plans to complete the first shipment and launch in the
local market within the first quarter of 2023. The local subsidiary
will be in charge of distribution and marketing.
Hugel plans to implement aggressive sales and marketing
activities to successfully settle into the Australian market and
expand its market share. Moreover, in addition to reasonable
pricing, Hugel plans to effectively deliver the efficacy and safety
of Letybo by providing training for local medical staff and
conducting academic programs in cooperation with major chain
clinics and key opinion leaders.
Hugel's CEO, Ji-hoon Sohn, said, "With the marketing approval in
Australia, Hugel was able to break
new ground, going beyond the Asian, European, and North American
markets to enter Oceania. Hugel, the first Korean botulinum toxin
company to obtain the marketing approval in Australia, will strive to become a leader in
the global botulinum toxin market beyond the leading company in
Korea."
View original content to download
multimedia:https://www.prnewswire.com/news-releases/hugels-letybo-first-in-korea-to-obtain-marketing-approval-from-australia-301686683.html
SOURCE Hugel