Daewoong Pharmaceutical said its global partner Evolus has entered the Spanish botulinum toxin (BTX) market with Nuceiva, a BTX developed by Daewoong. Nuceiva is also known as Nabota in Korea and Jeuveau in North America.

Daewoong stressed that this expansion marks the presence of Daewoong's Nuceiva in five major European markets -- the U.K., Germany, Austria, Italy, and Spain – which accounts for about 70 percent of the European botulinum toxin market.

According to Fortune Business Insights, Europe is the second-largest market for BTX after the U.S., with Spain recognized as a prominent market for aesthetics in the region.

Evolus, Daewoong's global partner, will manage the distribution and marketing of Nuceiva in Spain. Their strategy includes offering various training programs for local medical professionals and providing an online platform to foster close collaboration with healthcare experts.

"Starting direct operations in Spain, one of Europe’s largest aesthetic markets, is a significant step toward extending our business reach across Europe and globally,” Evolus CEO David Moatazedi said. “We aim to achieve sustained growth in the aesthetic toxin sector through the successful establishment of Nuceiva in Spain.”

This approach aims to support the rapid market penetration of Nuceiva while ensuring high satisfaction for patients undergoing aesthetic procedures, Moatazedi added.

Daewoong Pharmaceutical CEO Park Sung-soo also said, “With Nuceiva's entry into the high-potential Spanish market, we anticipate a significant increase in our influence across Europe.”

The company’s proprietary botulinum toxin is also set to enter additional overseas markets, including Ireland and Australia, within the year, Park added.