Daewoong Pharmaceutical's Q3 operating profit up 20% on strong sales of BTX, GERD drug

Daewoong Pharmaceutical reported solid third-quarter growth, driven by significant sales increases of its botulinum toxin Nabota and gastroesophageal reflux disease (GERD) drug Fexuclue.

The company posted third-quarter sales of 315.9 billion won ($228.9 million) and an operating profit of 41.1 billion won, representing a 4.26 percent and a 20.32 percent increase compared to the same period last year.

Nabota, marketed in the U.S. under the brand name Jeuveau, generated 47.4 billion won in third-quarter revenue, bringing cumulative annual sales to 137.6 billion won.

“The product continues to perform well in the U.S. aesthetic market, where it holds the No. 2 position among botulinum toxin products, confirming its status as a leading 'major toxin' brand,” the company said. “In the first half of the year, Nabota’s U.S. aesthetic sales surpassed those of Dysport, a competing product by French firm Ipsen, marking it as the fastest-growing botulinum toxin brand in the market.”

This growth reflects the product’s reputation for rapid, precise effects and proven safety, which have bolstered its popularity among American consumers, it added.

Fexuclue, Daewoong's 34th novel drug for GERD, achieved third-quarter sales of 22.6 billion won, bringing its cumulative annual revenue to 73.9 billion won and pushing the drug closer to its target of 100 billion won in yearly sales.

In addition to its local success, Fexuclue has expanded internationally and is currently available in five countries, including the Philippines, Mexico, Ecuador, and Chile.

The drug’s international presence is set to grow further, with marketing applications filed in 11 countries, including China, Brazil, and Saudi Arabia. Daewoong has also signed export agreements with an additional 14 countries, bringing the total to 30 countries for Fexuclue’s global reach.

“Our strong third-quarter results were driven by the successful sales of Nabota and Fexuclue,” Daewoong Pharmaceutical CEO Lee Chang-jae said. “We aim to sustain this growth by expanding the global footprint of our key product lines, targeting record-breaking performance through continued global market expansion.”