Daewoong Pharmaceutical is accelerating its penetration into the Latin American market by launching its botulinum toxin product, Nabota, in Ecuador. The company announced on the 7th that it officially launched Nabota in Guayaquil and Quito, the major cities of Ecuador, by holding launch symposiums last month. With this launch, Nabota has now entered 13 out of 20 Latin American countries.
Nabota's Growth in the Latin American Market
Starting with Panama in 2015, Nabota has achieved successful market expansion by successively entering major Latin American countries such as Brazil, Argentina, Chile, and Peru. In particular, it demonstrated high growth potential in the Latin American market by increasing its export contract with its Brazilian partner, Moksha8, tenfold to 180 billion won.
Ecuador Market Penetration Strategy
Daewoong Pharmaceutical plans to expand its market share in Ecuador based on the proven excellent quality and success experience of Nabota in major markets such as the United States, Europe, Brazil, and Thailand. To this end, it plans to carry out various marketing activities, including establishing official distribution channels, operating medical staff training and reward programs, and sharing the latest treatment trends.
Key Contents of the Launch Symposium
At this launch symposium, key experts in the field of plastic surgery in Latin America were invited to conduct educational programs on various products, including Nabota, skin boosters, and hyaluronic acid fillers. In particular, Brazilian plastic surgeon Jacqueline Barreto Rodrigues emphasized Nabota's high purity and accurate dose control function, and evaluated it as a product optimized to meet the needs of various patients.
Daewoong Pharmaceutical's Future Plans
Yoon Jun-soo, head of Daewoong Pharmaceutical's Nabota Business Division, said, "Based on our successful experience in Latin American countries and Nabota's world-class quality competitiveness, we will rapidly expand the market in Ecuador as well," and said, "We will do our best to achieve our vision of 1 trillion won per item."
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