On Sept. 4, Medytox announced that it would begin exports in earnest after receiving sales approval from the Thailand Food and Drug Administration (TFDA) for its botulinum toxin formulation 'Meditoxin' (export name: Neuronox). Once achieving annual sales surpassing 10 billion won, Meditoxin, which had established itself as the top toxin formulation in Thailand, will be relaunched in the market. The local joint venture, MedyCeles, has signaled its intent to reclaim the market through extensive marketing.
Last month, a grand commemorative event preceding the relaunch of Neuronox was held at the Siam Kempinski Hotel in Bangkok, celebrating the official return of Meditoxin to Thailand. MedyCeles, a joint venture established locally by Medytox and beauty distributor Celeste in 2017, played a pivotal role with its strong sales force and distribution network, enabling Meditoxin to rise as the top toxin formulation in Thailand since 2013 and the hyaluronic acid filler Neuramis, launched in 2018, to dominate the Thai market with a market share exceeding 60%.
Joo Hee-seok, vice president of Medytox, commented, “With the resumption of Meditoxin sales in Thailand, we are gaining momentum in targeting the Southeast Asian market,” and added, “We will focus our entire company's capabilities on recovering sales in the Thai market, which once recorded over 10 billion won annually, and show swift results.”