Botulinum toxin exports in 1H rise 17%

sales surge in the US, China

Botulinum exports from January to June amounted to USD 16.64 million last year, surged to USD 19.42 million this year

Exports to US and China are up by over 50% in 1 year... exports decrease in Brazil

Korea's botulinum toxin exports increased by 17% year-on-year in the first half of this year.

 

This is the highest half-yearly export performance recorded ever.

 

The increase in exports to the United States, China, and Japan is analyzed to have driven the increase in overall botulinum toxin exports.

 

According to the Korea Customs Service on July 16, the amount of domestic botulinum toxin exports from January to June this year was USD 194.21 million (about KRW 270 billion).

 

Compared to the USD 166.39 million recorded in the first half of last year, the amount has increased by 17% in just one year.

 

This is the highest half-year export record ever.

 

In the last three years, botulinum toxin exports have steadily increased, since recording USD 122.1 million in the first half of 2021 and USD 127.91 million in the second half; USD 131.41 million in the first half of 2022, and USD 164.9 million in second half; USD 166.39 million in the first half of 2023 and USD 186.62 million in the second half; and USD 194.21 million in the first half of this year.

 

The industry is expecting to exceed the USD 200 million mark in the second half of the year.

 

Semiannual exports of Korean botulinum toxins (Unit: USD 1 million, Source: Korea Customs Service)

By country, exports to the United States, China, and Japan increased significantly.

 

In the first half of the year, exports to the U.S.

 

totaled at KRW 35.64 million, up 55% from the USD 23.01 million in the same period last year.

 

Exports to China increased 53% from USD 23.55 million to USD 35.92 million.

 

Exports to Japan increased 45% from USD 10.52 million to USD 15.27 million.

 

Thailand and Brazil, which had been 2 of the leading exporting countries for domestically produced botulinum toxin, saw a slowdown.

 

Exports to Thailand increased only 3%, from USD 14.01 million to USD 14.37 million.

 

Brazil's exports dropped 25% from USD 21.07 million to USD 15.81 million.

 

The industry expects a further increase in exports of domestic botulinum toxin products to the US and China markets in the future.

 

In the US, Daewoong Pharmaceutical's Jubo (domestic product name: Nabota) has entered the market.

 

The company has been selling its product through its local partner Evolus.

 

Last year, Daewoong Pharmaceutical's botulinum toxin exports were estimated to be KRW 109.9 billion, with most coming from the US.

 

대웅제약 주보(좌), 휴젤 레티보 제품사진.

Hugel is also preparing to enter the US market.

 

In March this year, the company received the U.S.

 

Food and Drug Administration's (FDA) approval for Retivo (domestic product name: Botulax).

 

It is the second domestic botulinum toxin after Daewoong Pharmaceutical's ZuboJubo to receive marketing authorization in the US.

 

In June, the company won a strain dispute with Medytox and overcame the biggest obstacle to entering the US market.

 

The U.S.

 

International Trade Commission (ITC) issued a preliminary ruling that Hugel did not infringe on Medytox's intellectual property rights.

 

If this preliminary ruling leads to a final ruling in October, it is expected to accelerate Retivo's entry into the U.S.

 

market.

 

Hugel’s Retivo entered first in the Chinese market.

 

Hugel received marketing authorization for Retivo in China in October 2020.

 

Since then, it has reportedly been steadily increasing exports.

 

Daewoong Pharmaceutical is also accelerating its entry into China with Nabota.

 

Daewoong has applied for Nabota’s approval in China.

 

Daewoong plans to launch Nabota in China early next year after receiving marketing authorization within the year.

 

In addition to Daewoong, Huons is also in the process of applying for marketing authorization for its product to enter the Chinese market.