(Health Korea News / Soon-ho Lee) Dongkuk Pharmaceutical launched an all-out offensive targeting the medical aesthetics market. They established a new related division, acquired a cosmetics company, and also launched a new filler product. Meanwhile, this time, the company began expanding its portfolio by entering the botulinum toxin preparation market. The botulinum toxin market has maintained a three-tiered system, but attention is being paid to whether the addition of Dongkook Pharmaceutical will bring about a change in perception.
Dongkook Pharmaceutical recently signed a domestic exclusive distribution contract with BNC Korea for the botulinum toxin preparation ‘Vienox Injection’. Through this agreement, both companies plan to jointly discover new customers and conduct marketing for ‘Vienox Injection.’
‘Vienox Injection’ is a product that has secured safety and effectiveness through clinical trials conducted in Korea. It is characterized by shortening the process time and minimizing protein damage by adopting a reduced-pressure drying method based on the latest facilities. It obtained product approval from the Ministry of Food and Drug Safety in March for its efficacy and effectiveness in temporarily improving moderate to severe wrinkles between the eyebrows related to the activity of the corrugator and procerus muscles.
Dongkuk Pharmaceutical expects that it will be able to specialize its medical aesthetics business through the exclusive domestic distribution contract for ‘Vienox Injection’.
Botulinum toxin preparations are considered a core field in the medical aesthetics market. In fact, there are quite a few pharmaceutical companies in Korea whose main business is botulinum toxin preparations. The industry’s view is that it is natural for Dongkook Pharmaceutical, which has declared to begin its medical aesthetics business, to enter the botulinum toxin preparation market.
The domestic botulinum toxin market is estimated to be worth more than 200 billion won. Three pharmaceutical companies, including Daewoong Pharmaceutical, Hugel, and Medytox, have formed a three-tier structure for over 10 years, but cracks began to appear in this structure as Chong Kun Dang recently applied for product approval for its self-developed botulinum toxin product ‘Time Bus Inj.’ In addition, as Dongkook Pharmaceutical announced its entry into the domestic botulinum toxin market, the possibility of a tectonic shift in the related market is increasing.
Dongkuk Pharmaceutical establishes Medical Aesthetics Division
Acquired Libom Cosmetics… Launch of new HA filler product
Dongkook Pharmaceutical recently officially launched a new business division, ‘dkma (DongKook Medica Aesthetics)’, and set its sights on the medical aesthetics market. In order to specialize in the field of medical aesthetics, we plan to strengthen the dkma brand’s product line and continue regular academic symposiums and in-depth academic activities.
In line with this, the company acquired Withnyx, a beauty equipment manufacturer, last May, and recently began expanding its business by acquiring Libom Cosmetics, a manufacturer specializing in cosmetics R&D and export.
Established in 2010, Libom Cosmetics is a company with sales of around 20 billion won. We are currently dealing with over 150 customers. We have 34 overseas clients in over 20 countries through registration as an over-the-counter (OTC) company with the U.S. FDA, cGMP approval, and Halal certification.
Through this acquisition contract, Dongkook Pharmaceutical expects to create synergy by combining its natural product extraction technology and herbal medicine development capabilities with Libom Cosmetics’ research and development and manufacturing know-how.
The company also launched the hyaluronic acid (HA) filler product ‘Kevlin’ in July. ‘Kevlin’ is a new filler product introduced by Dongkook Pharmaceutical 13 years after ‘Velast’. It is characterized by increased satisfaction and safety by incorporating existing HA raw materials and filler manufacturing know-how.
Based on the manufacturing technology called ‘GTS-351 Technology’, technologies such as ThermoCross 24HA synthesis, ShapeSync 500 HA standardization, and German Purification System were applied. Through these technologies, five factors including safety, stability, formability, ease of injection, and durability were optimized.
In addition, Dongkook Pharmaceutical launched a new medical aesthetics line, skin booster ‘D-Hive’ and wound dressing material ‘MadecaMD Cream/Lotion’, and entered into an MOU for joint development of skin care inflammating products with Chaperone, establishing itself in the medical aesthetics business. We are waging an all-out fight for this.
An industry insider said, “Dongkook Pharmaceutical, which is on track to achieve 1 trillion won in sales, has chosen medical aesthetics as a new business and is making a strong drive.” He added, “A company that shows strengths in both over-the-counter and prescription drugs and B2C healthcare fields. “It is expected that it will provide a boost to the medical aesthetics market.”
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Source: www.hkn24.com
