Obtained official permission for botulinum toxin in Kazakhstan
Spurs targeting emerging niche markets for botulinum toxins around the world
Huons Global Co., Ltd. (CEO Sung-Tae Yoon) announced on the 7th that the botulinum toxin’HUTOX’ has been officially registered in Kazakhstan, a major country in the Commonwealth of Independent States (CIS) region.
Huons Global said that this registration is significant in that Hutox officially entered Kazakhstan, where the aesthetic and pharmaceutical market has great growth potential, and it is a very valuable achievement considering the expansion of the market entry into the CIS region.
Huons Global will enter the local market through the Kazakhstan partner’YUMA Medical LP’. ‘Yuma Medical’ is a company specializing in esthetic medicines and medical devices, and is responsible for registering local permits and communicating with national partners to advance into other CIS regions other than Uzbekistan.
The two companies plan to accelerate their targeting of the botulinum toxin market in the CIS region as they have official approval in Uzbekistan in the first half of this year, and approvals in Armenia, Azerbaijan, and Georgia are also progressing smoothly.
Huons Global Vice Chairman Seong-Tae Yoon said, “In addition to targeting major botulinum toxin markets such as the US, Europe, and China, we are strategically targeting emerging niche markets such as the Middle East and CIS regions, which are highly evaluated for future growth. Acquisition of official licenses will also speed up, strengthening the dominant position of’Hutox’ in the entire CIS region including Kazakhstan, and dominating the market.”
Meanwhile, Huons Global is making various efforts at home and abroad to strengthen its botulinum toxin business. In Korea, the application for product permission for the improvement of wrinkles around the eyes has been completed, and a phase 2 clinical trial is also in progress for the improvement of benign masseter hypertrophy (square jaw).
In addition, we are concentrating on expanding indications and developing new formulations to strengthen competitiveness, such as successfully completing phase 1 clinical trials for improving glabellar wrinkles of botulinum toxin’HU-045′, which has reduced the possibility of developing resistance. It has signed large-scale export contracts with major esthetic pharmaceutical companies in Latin America, is promoting local clinical trials and product licenses, and is accelerating its global expansion.
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