Nabota accounts for 24% of Daewoong’s ETC sales

increases presence within the company

Nabota’s sales in Q2 KRW 53.1 billion… rises 75% in 2 years

U.S. sales surge...Partner Evolus sets new record for 5th consecutive quarter

Share of Nabota’s sales in the ETC division rise from '8.5%→24.4%' in 3 years

Daewoong Pharmaceutical's botulinum toxin 'Nabota' continued its upward sales trend.

 

The company's quarterly revenue exceeded KRW 50 billion for the first time, led by the company’s growth in overseas markets.

 

Nabota’s share of Daewoong's specialty drug sales reached nearly 25 percent, driving the company's performance.

 

According to Daewoong Pharmaceutical on the 12th, Nabota generated sales of KRW 53.1 billion in Q2, up 62.4% year-on-year.

 

This is the first time since its launch that the drug’s quarterly sales exceeded KRW 50 billion, surpassing the previous record of KRW 42.6 billion set in Q1 last year in less than a year.

 

Nabota’s sales increased 74.7% in 2 years, compared to sales of KRW 30.4 billion in Q1 2022.

 

Daewoong Pharmaceutical

Sales of Nabota in the U.S.

 

market continued to rise steadily.

 

Daewoong Pharmaceutical's sales partner for Nabota, Evolus, reported sales of USD 66.9 million (approximately KRW 92 billion) in Q2, up 35.6% from the USD 49.35 million made year-on-year.

 

This marks the fifth consecutive quarter Evolus renewed its revenue record since the company reported USD 49 million in Q2 last year.

 

Nabota's export performance has begun to surge since the closure of its strain theft lawsuit with Medytox, which began in 2019, and the established trust in Nabota based on the accumulated U.S.

 

experience.

 

In February 2021, Medytox entered into a settlement agreement with Daewoong Pharmaceutical's U.S.

 

partners Evolus and AbbVie for the sale of Nabota (U.S.

 

trade name Jeuveau) in the United States.

 

Under the agreement, Medytox and AbbVie received the rights to continue marketing and distributing Jeuveau in the U.S.

 

for certain payments from Evolus.

 

Evolus is also looking to expand into the European market, having launched Nabota in Spain in June.

 

In Europe, Nabota is currently available under the brand name Nuceiva and is now available in the U.K., Germany, Austria, Italy, and the U.S., in addition to Spain.

 

In June, the company received marketing authorization for Nabota from Argentina's National Administration of Drugs, Food and Medical Devices (ANMAT), accelerating its international expansion as well.

 

Nabota will be launched in Argentina under the brand name Clodew in Q4 this year through Daewoong’s local partner Oxapharma.

 

Daewoong Pharmaceutical currently has botulinum toxin products licensed in more than 70 countries worldwide and partnerships in more than 80 countries.

 

As a result, Nabota's presence in Daewoong's sales is also gradually expanding.

 

In Q2 last year, Nabota’s sales accounted for 24.4% of Daewoong's KRW 218 billion in specialty drug sales, the largest share ever.

 

Among the products developed and sold by Daewoong Pharmaceutical, Nabota has generated the largest sales volume.

 

Daewoong's sales of specialty drugs increased 11.7% in 3 years from KRW 181 billion in Q2 2021, while Nabota’s sales more than tripled in the same period.

 

Nabota's share of the company's specialty drug sales has nearly tripled in 3 years from 8.5% in Q2 2021.

 

Nabota’s share in Daewoong Pharmaceutical's specialty drug sales exceeded 10% in Q3 2020 for the first time.

 

After surpassing 20% in Q1 last year at 20.6%, it remained in the 10% range until Q1 this year.

 

However, with the surge in Nabota’s sales, the drug accounted for more than a quarter of the company’s specialty drug sales in Q2.

 

More recently, the company’s new drug Fexclue has also contributed significantly to company sales.

 

In Q2, sales of Fexuclue more than doubled year-on-year to KRW 33.2 billion.

 

Fexclue is a potassium-competitive acid blocker (P-CAB) drug that treats GERD.

 

Fexuclue was approved by the MFDS in December 2021 and began full-scale sales in July 2022 after being listed for reimbursement on Korea’s health insurance benefit list.

 

Nabota and Fexuclue jointly generated KRW 86.3 billion in sales in Q2, accounting for 39.6% of the company's specialty drug sales.

 

Daewoong Pharmaceutical set a new performance record thanks to the steep growth of its self-developed drugs.

 

On a standalone basis, Daewoong Pharmaceutical's Q2 revenue increased 6.0% year-on-year to KRW 325.5 billion, and operating profit increased 37.1% to KRW 49.6 billion.

 

Both the revenue and operating profit in Q2 were the largest in the company's history.

 

The operating profit margin as a percentage of sales was 15.2%, a significant improvement from the 11.8% it had made in the same period of the previous year, showing high performance.

 

Daewoong Pharmaceutical's operating profit on a consolidated basis was KRW 42.3 billion in Q2, up 5.6% year-on-year, the largest ever.

 

Revenue increased 3.0% year-on-year to KRW 360.5 billion, the second-highest amount ever recorded after Q4 of last year.