April 19, 2024

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[THE INVESTOR] Korean botulinum toxin makers are rushing to expand the scope of their anti-wrinkle treatments to get an upper hand in the competitive market.

Currently, three Korean companies -- Medytox, Hugel and Daewoong Pharmaceutical -- have a combined 90 percent share in the Korean market for botulinum toxin injections.

Medytox’s flagship product Neuronox already has four indications, including glabellar lines treatment, approved for use here. It is now seeking to add five more applications, including to treat benign masseteric hypertrophy and overactive bladder. Recently, the company also received approval to initiate phase 2 clinical trials for treating chronic migraines.

“We’ve started clinical studies for the therapeutic use of Neuronox as Korea’s cosmetic surgery market is entering a mature stage. We believe such efforts will help us retain the domestic market share and have a positive impact on our overseas expansion,” a Medytox official said.

Medytox’s rivals are also undergoing label expansion. Hugel’s Botulex is preparing to enter studies to prove its efficacy in overactive bladder while Daewoong’s Nabota is under phase 3 trials on patients with eyelid spasms.

This trend is actually a global one. Ireland-headquartered Allergan, the worldwide leader in botulinum toxin that’s famous for its blockbuster Botox, is now offering nine therapeutic and three cosmetic indications.

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