Daewoong Pharmaceutical Co. announced that its botulinum toxin product, Nabota, received approval from Argentina’s National Administration of Drugs, Food and Medical Technology (ANMAT) last month. Marketed under the name Clodew, this marks the first time a domestically produced botox from South Korea has been approved in Argentina.
Daewoong plans to introduce Clodew to the Argentine market through its local partner, Oxapharma, with a targeted launch in the fourth quarter of this year. The company aims to actively promote the brand to establish a strong market presence.
Argentina represents a lucrative opportunity for Daewoong, ranking fourth globally in the number of botox procedures per capita last year. Despite its potential, entering the Argentine market poses significant challenges, including stringent entry barriers like the requirement for Good Manufacturing Practice (GMP) certification from recognized high-surveillance countries such as the US and European nations.
Daewoong’s successful approval reflects its compliance with these rigorous standards, positioning Clodew for a competitive entry into Argentina’s cosmetic treatment industry. The company is gearing up for an extensive marketing campaign to boost brand recognition and capture market share in this growing sector.
