April 27, 2024

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[THE INVESTOR] Korean biotech firm Huons said on Aug. 14 that its anti-wrinkle treatment Hutox saw sales jump 58.1 percent on-quarter during the period of April to June this year.

Riding on this success, the firm’s second quarter sales rose 11 percent to 72.1 billion won, while operating profit rose 22 percent to 8.7 billion won. Huons shares rose 7.84 percent to close at 55,000 won on Aug.14.

The firm attributed the latest growth to exports, as Huons began shipping Hutox to Japan and emerging markets in the Middle East and Latin America and Northeast Asia after receiving approval from the Korean health authorities last year. 

Hutox has not been launched in Korea yet, but the company plans to conduct a final phase 3 clinical trial later this year, aiming to hit local shelves in 2018. To tap into the US and European markets with Hutox, it is also searching for global partners for clinical studies and marketing.

For increased competitiveness, Huons also plans to expand the indications of Hutox, which is currently designed to target wrinkles in the forehead.

“We plan on expanding to stroke and muscle stiffness in the future,” said Huons CEO Kim Wan-seop.

In February, the company invested 10 billion won (US$8.77 million) to build a new plant for its new botulinum toxin, in Jecheon, North Chungcheong Province. Once the plant is completed next year, the company’s Hutox production capacity will increase fivefold to 3 million vials a year, according to the firm.

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