Daewoong Pharmaceutical said the U.S. sales of its botulinum toxin Nabota (U.S. brand name: Jeuveau) exceeded 20 billion won ($17.2 million) in the fourth quarter. As the proportion of re-orders increased, the accumulated sales expanded to 40 billion won for eight months since the market release in the U.S. in May, the company said.
According to the recent report by Evolus, the partner firm of Daewoong, Jeuveau’s revenue recorded $17.8-$18.8 million in the fourth quarter in the U.S. The sales of Jeuveau were estimated to be about $33.3-$34.3 million for all of 2019.
To gain a larger share in the U.S. botulinum toxin market led by Allergan’s Botox, Evolus has been aggressively promoting that Jeuveau also features 900kDa, which has the same molecular structure as Botox but available at a 20-30 percent lower price.
Immediately after the market release, Evolus offered the “Jeuveau Experience Treatment (J.E.T.)" program to American physicians.
Also, the company provided the “#NEWTOX NOW” program for consumers to receive Jeuveau treatment at an affordable price, and carried out an active marketing program rather than offering discounts within a limited time.
The number of Jeuveau ordering accounts shot up from around 350 in the second quarter to more than 2,000 in the third quarter and more than 3,500 in the fourth quarter. The proportion of re-orders also increased from 12 percent in the second quarter to 56 percent in the fourth quarter. The company said physicians and consumers who were satisfied with the experience programs had purchased Jeuveau again.
By adding new clients, Jeuveau is increasing its revenue rapidly. The sales of Jeuveau climbed from $2.3 million in the second quarter to 18.8 million in the fourth quarter. The fourth-quarter revenue was up 152-160 percent, compared to the previous quarter.
This year, Evolus will shift its focus from promoting Jeuveau to enhancing customers’ loyalty.
David Moatazedi, CEO of Evolus, said he was satisfied with Jeuveau’s fourth-quarter earnings and expected that the growth momentum would continue in 2020. “We remain highly confident in our ability to achieve the No. 2 U.S. market position within 24 months of launch,” he said.
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