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Huons to export BTX to China
  • By Lee Han-soo
  • Published 2018.09.17 13:40
  • Updated 2018.09.17 13:40
  • comments 0

Huons, a subsidiary of Huons Global, said Friday that it has signed a contract with Imeik Technology Development, a Chinese firm, to export Hutox, the company’s botulinum toxin (BTX) product.

Huons CEO Um Key-an (right) and Imeik Technology Development CEO Jian Jun hold up the export agreement on Thursday.

The two companies have decided not to disclose the size of the total supply contract.

Imeik Technology Development is a firm specializing in aesthetics and has a partnership with more than 3,000 plastic surgeons and dermatology hospitals throughout China. The company, which has its pillars production plant and research institute, has considerable influence in the local beauty industry. IFRESH, Imeik’s hyaluronic acid filler, ranked second in sales in China in 2017.

Huons plans to launch clinical and product licensing in China through Imeik and supply Hutox exclusively for 10 years after the approval of the product.

The Korean company aims to aggressively target the Chinese BTX market by utilizing Imeik’s vast network and will take advantage of Imeik’s know-how and distribution experience to advance its product into the Chinese market. It expects to generate sales synergies through combined marketing and sales with Imeik’s hyaluronic acid filler IFRESH.

The Chinese BTX market is showing the rapid growth of 30 to 40 percent annually due to increasing interest in anti-aging and K-beauty and reached a size of 150 billion won ($133.3 million) in 2017.

“The contract is significant as it is for one of the fastest growing markets in the global botulinum toxin market,” Huons CEO Um Key-an said. “We plan to conduct clinical trials and product approval without any hitches together with our Chinese partners.”

corea022@docdocdoc.co.kr

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