Daewoong Pharmaceutical announced on the 30th that it has signed an export contract worth KRW 29.5 billion for Nabota in the Mexican market with Moksha8. Moksha8 is Daewoong Pharmaceutical’s partner company for the Latin American region.

With this contract, Daewoong Pharmaceutical’s Nabota has successfully entered the top five aesthetic and plastic surgery markets in Latin America. The International Society of Aesthetic Plastic Surgery (ISAPS) designates Mexico, Brazil, Argentina, Colombia, and Chile as the top five markets in Latin America.

Since first entering Panama in 2015, Daewoong Pharmaceutical has sequentially launched Nabota in major markets including Brazil, Argentina, Colombia, Peru, and Chile, thereby expanding its influence step by step in the Latin American region. To date, the company has signed export contracts in 17 out of 20 Latin American countries, with products launched in 13 of these markets.

Moksha8, selected as the distribution partner for Mexico, has been collaborating with Daewoong Pharmaceutical since 2018 and has successfully launched Nabota in the Brazilian market. Its strategy of first targeting aesthetic and dental clinic markets with high growth potential, while basing its efforts on the highly competitive dermatology and plastic surgery-centered market, is seen as having been effective. As a result, the contract value has grown by more than tenfold in approximately five years since market entry. Recently, the two companies further strengthened their partnership by signing a Nabota supply contract worth around KRW 180 billion. Yoon Joon-soo, Head of the Nabota Business Division at Daewoong Pharmaceutical, said, “Mexico is the second-largest aesthetic and plastic surgery market in Latin America after Brazil, and is therefore an important strategic country in terms of market size,” adding, “Although the frequency of aesthetic procedures per capita is still lower than in Korea, the market’s growth potential is significant and the premium toxin segment has high potential, making it a very attractive market.” He continued, “Based on the successful experience in Brazil and the solid partnership with Moksha8, Nabota will rapidly expand its presence in Mexico.”

Daewoong Pharmaceutical plans to fully accelerate its entry into Mexico, one of the core aesthetic and plastic surgery markets in Latin America, on the basis of its partnership with Moksha8. Building on its success in Brazil, the company intends to implement strategies including ▲operation of a specialized sales force ▲active expansion of sales channels ▲systematic training programs for local healthcare professionals ▲and measures to enhance customer loyalty. Through these efforts, it aims to secure growth momentum in Mexico, where three leading global brands currently account for more than 95% of market share.

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