Daewoong Pharmaceutical announced on the 19th that it has signed a 738 billion won export contract for the botulinum toxin "Nabota" with its Thai partner, Montana Marketing.
The contract signed between Daewoong Pharmaceutical's Thai subsidiary and Montana Marketing will last for five years and is approximately three times larger than the first contract made in 2020.
Thailand is the fourth largest beauty and cosmetic surgery market in Asia, following China, Japan, and Korea, and has shown rapid growth in recent years. Since Nabota was first introduced to the Thai market in 2020, its market share has steadily increased to over 30%. Localized marketing efforts, such as regular training programs for medical staff and webinars, have been effective in strengthening connections with healthcare professionals and customers.
Montana Marketing is a Thai corporation specializing in the distribution of pharmaceuticals and healthcare products, exclusively distributing Nabota to approximately 1,000 clinics in the region. By creating portfolio synergies with various aesthetic products such as fillers and lifting threads, it is enhancing its competitiveness throughout Thailand.
Based on this contract, Daewoong Pharmaceutical plans to expand Nabota's influence across Southeast Asia, including Thailand, through the expansion of high-volume combination procedures, enhanced exchanges with medical professionals and experts, and continuous customer marketing.
Yoon Jun-soo, head of Daewoong Pharmaceutical's Nabota business division, said, "This contract is the largest scale since our entry into the Southeast Asian market, and we plan to accelerate the expansion into neighboring countries based on stable results in Thailand." He added, "We will continue to strengthen Nabota's influence in the global toxin market with business strategies that meet local needs."