North American sales of Daewoong's Nabota soar after resolving legal dispute

Daewoong Pharmaceutical's botulinum toxin product Nabota marked the record-high sales records in two consecutive quarters in North America, the company said on Thursday.

Evolus said it marked the record-high sales figure for Nabota for two consecutive quarters in North America after resolving legal issues tied to the treatment.

Daewoong’s local partner Evlous markets Nabota under the product name Jeuveau in North America.

According to Evlous, Nobota attained sales of $26.68 million in the third quarter, up 57.7 percent from the same period last year.

As a result, Evolus recorded the highest-ever quarterly sales despite the prolonged Covid-19 outbreak, continuing to set a sales record for the two consecutive quarters. In addition, Nabota's cumulative sales in the first nine months of this year reached $64.31 million.

The company said that there are more than 240,000 registered Nabota consumers, twice as many as the end of last year. Nabota's purchasing accounts also increased by 500 in the third quarter to 6,500.

Evolus has been actively selling Nabota in North America since the U.S. Food and Drug Administration approved the treatment in February 2019.

The company faced legal issues in the U.S. due to a dispute with Medytox and Allergan. However, U.S. International Trade Commission (ITC) settled the matter with a 21-month import ban on Nabota into the U.S last December.

Evlous stressed that it would market Nabota in Europe with the brand name of Nuceiva from early next year.

The company plans to target major European countries, such as the U.K., Germany, and France, as initial target markets.

"We reported record-high sales of Jeuveau in the third quarter, a low demand period,” Evolus President and CEO David Moatazedi said. "The strong performance reflects increasing momentum and positions Evolus for a great finish to 2021."

The company's commercializing efforts are now in full swing, seeing accelerated growth trends resulting from co-branded marketing programs, Moatazedi added.

Evolus has also started a phase 2 clinical trial to evaluate the maximum dose of Nabota to use the treatment for an extended period in treating forehead wrinkles.

Currently, the basic capacity is 20 units, but the company plans to increase the capacity to 40 units.

The company explained that patient registration will start in the first quarter of next year and complete the study by 2023.

"With our strong commercial ramp underway, we are now investing in a Phase II program to study an extra strength dose for extended duration of Jeuveau," Moatazedi said. "Given our aesthetics-only business model, Evolus is uniquely positioned to capitalize on the opportunity, which should further position us for continued market share gains."