[THE INVESTOR] Huons Global said March 6 that it has completed patient enrollment for phase 3 clinical studies of Hutox, its botulinum toxin used for forehead wrinkle treatment, months ahead of schedule.
With the early completion of patient recruitment, Huons Global expects to wrap up the final stage clinical trials in 2018 to launch the anti-wrinkle injection next year in Korea, the firm said.
In October last year, Huons Global got approval to initiate phase 3 tests from the Ministry of Food and Drug Safety.
“In addition to early entry into the domestic market next year, exports are forecast to increase,“ Huons Global CEO Kim Wan Seop said in a statement.
If Huons successfully brings Hutox to the Korean market, competition between players on the botullinum toxin market will heat up further as local firms like Hugel and Medytox are already holding a dominant position with their versions, which are more affordable than injectables from foreign companies like Allgergan, Mertz and Ipsen.
Since late 2016, Hutox Global has entered countries in the Middle East and Northeast Asia that don’t require clinical trial results. Hutox generated 14.8 billion won (US$13.77 million) in sales last year.
The company also seeks to tap into bigger markets like the US and Europe. As part of the plans, Huons Global is bolstering its production capacity by building a new plant, which is capable of producing 5 million vials of Hutox per year. The construction work is expected to finish by the second half of 2018.
By Park Han-na (email@example.com)