Huons said that Iraqi health authorities have approved Hutox, its botulinum toxin (BTX) product, as the country's first BTX product.
|Huons' Hutox has become the first BTX product to receive sales approval in Iraq. (Huons)|
While it is difficult to predict the local market's size because no botulinum toxins have officially entered Iraq, the company expects that the market size will be considerable given some existing sales routes such as government tenders.
Huons plans to enter the market through its partner, Jenna Scientific Drug Bureau, an Iraqi healthcare company and plans to expand its market share in the Middle East country by participating in government bidding processes.
"Through this registration, the company has secured an exclusive and superior position in the Iraqi botulinum toxin market," Huons CEO Um Key-an said. "The company expects that the contract will serve as a catalyst in exporting its BTX product with various other countries in the region."
Huons’ clinical trials and approvals processes in China, Russia, and Latin America are also proceeding as planned, Um added.
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