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The Korea Herald
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THE INVESTOR
March 29, 2024

Bio

Huons joins competition for botulinum toxin market

  • PUBLISHED :March 01, 2017 - 15:21
  • UPDATED :August 14, 2017 - 13:39
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[THE INVESTOR] South Korean pharmaceutical company Huons is making an aggressive move into the fast-growing botulinum toxin market by setting up a new plant.

The company said on Feb. 27 it plans to invest 10 billion won (US$8.84 million) to build a new plant for its new botulinum toxin, or BTX, product, in Jecheon, North Chungcheong Province, where its first plant is located. 




Once the second plant is complete, the company’s total BTX production capacity will increase fivefold to 3 million vials a year, according to the firm.

The KOSDAQ-listed firm is betting big on its new BTX product Hutox, a treatment to reduce wrinkles on the middle of the forehead, to tap into the US and European markets.

“Building the second production facility aims to prepare for the domestic approval on the product expected in 2018, and to deliver a stable supply of Hutox to the US and Europe in future.” Kim Wan-seop, head of the New Growth Business at Huons Global, said.

Huons is hoping to launch the wrinkle treatment as early as the second half of 2019. Currently, Hutox is undergoing phase 2 domestic clinical trials.

Competition among local BTX makers is expected to intensify with Huons’ arrival.

South Korea’s BTX market is estimated at 100 billion won, while Medytox and Hugel dominate the market with 40 percent and 30 percent share, respectively, followed by Daewoong Pharmaceutical and Allergan.

The expected annual production volume of 3 million vials of Huons exceeds Hugel’s 2.5 million vials. Medytox, which currently has a production capacity of 1.5 million vials, plans to increase that by about 10 million vials in the second half of this year.

In terms of US clinical studies, Hugel is leading the pack with an ongoing phase 3 trial, while Medytox is working with Allergan to prepare a phase 3 study. Huons is in the early stage to design US trials.

By Park Han-na (hnpark@heraldcorp.com)

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