Published : 2013-09-30 21:27
Updated : 2013-09-30 21:27
Daewoong Pharmaceutical Co., a major South Korean drug maker, said Monday it has signed a deal with Evolus, a U.S. biotech venture, in a bid to sell its Botox products in the U.S. and European markets beginning as early as 2016.
The deal is designed to start regulatory processes for approval of botulinum toxin type A in the U.S. and European markets, according to Daewoong.
Daewoong said it will export botulinum toxin type A, which will be marketed as Nabota, while Evolus will be in charge of clinical tests and regulatory approval of the drug in the markets.
Daewoong said it expects the new drug to win approval from health authorities in the U.S. and Europe in 2016.
The Korean company said its new drug will be available in South Korea by the end of this year.
The new drug, which is administered via injections, improves the frown lines and arm paralysis, according to Daewoong.
Botox injections work by weakening or paralyzing certain muscles or by blocking certain nerves. The effects last for about three to four months, according to the U.S. National Library of Medicine. (Yonhap News)