Daewoong Pharmaceutical's botulinum toxin product Nabota continues its rapid global growth, with overseas sales now four times domestic revenue. The company is strategically targeting the Middle East and North Africa (MENA) region, where the aesthetic market is projected to reach $4.76 billion by 2030. This expansion signals new sourcing opportunities for distributors and clinics seeking proven neurotoxin brands.
Q1 2026 Financial Performance
Daewoong reported consolidated Q1 2026 revenue of KRW 377.8 billion ($290 million), up 6.2% year-over-year, but operating profit fell 34.7% to KRW 22.2 billion ($17 million). Net profit was KRW 25.5 billion ($19.6 million). The operating margin dropped from 10% to 5%, attributed to one-time costs from restructuring the distribution network for its gastroesophageal reflux drug Fexuclu. On a standalone basis, revenue reached KRW 335.7 billion ($258 million), slightly below market estimates of KRW 337.5 billion ($259 million), while operating profit of KRW 27.4 billion ($21 million) missed the consensus of KRW 35.9 billion ($27.6 million).
Nabota Sales Growth and Global Reach
Nabota generated KRW 51.8 billion ($39.8 million) in Q1 2026, up 13.77% year-over-year, making it Daewoong's top-selling product. Approximately 81% of Nabota sales (KRW 42.4 billion, $32.6 million) came from overseas markets. Since receiving FDA approval in 2019, Nabota has captured 14% of the U.S. aesthetic toxin market, the highest share among Korean neurotoxin brands. The product is now exported to over 60 countries, with strong presence in North America, Europe, and Asia.
Middle East Expansion Strategy
Daewoong has identified the MENA region as a key growth driver, targeting the projected $4.76 billion aesthetic market by 2030. Nabota has entered six Middle Eastern countries: UAE (2020), Saudi Arabia, Qatar, Turkey, Egypt, and Bahrain (2026). Iraq has obtained manufacturing site approval and awaits product registration. In April 2025, Daewoong hosted Middle Eastern medical professionals at its Nabota Master Class (NMC) to demonstrate injection techniques and regional toxin applications.
What Buyers Should Watch
Distributors and clinics in the Middle East should monitor Nabota's regulatory progress in Iraq and potential new market entries. Daewoong's aggressive expansion strategy, backed by proven U.S. market success and dedicated physician training programs, positions Nabota as a competitive alternative to established neurotoxin brands. The company's focus on quality and localized support may offer favorable terms for early partners in emerging markets.
Source: Read the original report | Published: June 05, 2026