Hugel, a Kosdaq-listed medical aesthetics company, said Tuesday that it has obtained product approvals for its botulinum toxin (BTX), Letybo, in Lithuania, Bulgaria, Iceland, and Croatia.

With this approval, Hugel is rapidly expanding its market by entering 30 European countries, including Germany, the U.K., France, Italy, and Spain.

Hugel became the first Korean BTX company to enter the European market with its first shipments to France and Austria in March 2022, after receiving approval from Europe's Heads of Medicines Agencies (HMA) in January 2022.

BTX is used for medical purposes to treat various muscle abnormalities and hyperhidrosis, but it is more commonly used for cosmetic purposes by utilizing its effect to temporarily paralyze muscles.

Europe is one of the top three BTX markets in the world, along with China and the U.S., with interest in medical aesthetic procedures spreading rapidly, diversifying the age range for treatment and increasing the number of male consumers, the company said.

"As the No. 1 product in the Korean BTX market for seven consecutive years, we will increase our influence in the European market based on our excellent quality and efficacy," a Hugel official said. "We will continue to strengthen our network with medical practitioners in addition to differentiated sales and marketing strategies tailored to local market characteristics."