Daewoong Pharmaceutical and Medytox are set to compete in the submental fat improvement injectable market, following botulinum toxin (BTX).

Medytox said it applied for a new prdoduct license from the Ministry of Food and Drug Safety for NEWV (MT921 in development name), a lipolysis injection with the indication of improving moderate and severe submental fat, last Friday.

In February, Medytox completed a phase 3 clinical trial in 240 patients at 10 medical institutions. The company explained the results showed a significantly higher rate of improvement in submental fat, patient satisfaction, and volume of submental fat measured by MRI in the MT921 group compared to the placebo group.

Medytox emphasized that MT921's main ingredient is cholic acid (CA), which has a lower interfacial activity than the existing deoxycholic acid (DCA)-based injections and, therefore, has high competitiveness by reducing adverse events, including pain, edema, bruising, and pigmentation.

Daewoong Pharmaceutical's V-OLET is Korea's best-known DCA-based submental fat improvement injection. Daewoong launched V-OLET in October 2021, emphasizing that it is the only submental fat improvement injection officially licensed by the MFDS.

Daewoong maintains that Violet's main ingredient, deoxycholic acid, is different from other contouring procedures that temporarily reduce the size of fat because it can perform irreversible adipocytolysis. An additional effect of improving skin elasticity can also be expected, according to Daewoong officials.

Daewoong is actively promoting V-OLET by holding aesthetic symposiums in Seoul and Busan. The company appointed eight Daewoong Athletics V-OLET Ambassadors (DAVAs) as the product’s promoters and advisors in April.

Medytox plans to launch NEWV in the second half of next year by establishing marketing strategies, including synergistic promotions with botulinum toxin products and fillers. Market analysts are keenly watching what strategy Medytox, which came to the market several years later than Daewoong with a product to improve fat under the chin, will take.

"NEWV is a product that symbolizes Medytox's full-scale entry into the field of synthetic new drugs," Medytox Vice President Joo Hee-seok said. "We will make every effort to ensure that NEWV, developed with cholic acid as the main ingredient and has excellent competitiveness, will deliver results that meet market expectations.”