Second Quarter Earnings Show Double-Digit Growth
Daewoong Pharmaceutical has reported a solid financial performance for the second quarter of 2025. On a standalone basis, the company posted sales of KRW 363.9 billion (approx. $280 million) and an operating profit of KRW 62.5 billion ($48 million), representing year-on-year increases of 11.8% and 26%, respectively. For the first half of the year, cumulative sales reached KRW 680 billion, up 9.3% from the same period in 2024.
Nabota Emerges as a Key Growth Driver
The company’s botulinum toxin product, Nabota, has emerged as a major contributor to its growth. During the first half of the year, Nabota generated KRW 115.4 billion in revenue — a 28% increase compared to KRW 90.2 billion in the same period last year. With this growth trajectory, Daewoong expects Nabota’s annual sales to surpass KRW 200 billion by year-end.
Since becoming the first botulinum toxin product from Asia to receive FDA approval in 2019, Nabota has steadily expanded its footprint in global markets. In the United States, it is marketed under the brand name “Jeuveau” and currently holds a 14% share of the cosmetic toxin market, ranking second overall.
International Expansion Accelerates
Nabota has seen robust growth across key international markets, especially in Latin America and Southeast Asia. In Brazil, Daewoong secured a KRW 180 billion ($138 million) export deal — ten times the size of its original 2018 agreement. In Thailand, the company signed a renewal export contract worth KRW 73.8 billion, triple the value of the previous deal.
The company is also rapidly expanding into the Middle East. A newly signed export agreement with Kuwait will allow Daewoong to supply Nabota to five countries in the region. With active operations already in the UAE, Saudi Arabia, Qatar, and Kuwait, the company is now present in four of the six Gulf Cooperation Council nations. This regional expansion is expected to gain further momentum in the near future.
Investments in Education and Medical Collaboration
Daewoong is actively enhancing its global engagement through educational and academic initiatives. The company is promoting its proprietary procedure technique, “Nabolift,” while hosting international conferences, webinars, and hands-on training sessions focused on combination treatments. These efforts are part of a broader strategy to strengthen ties with local healthcare professionals and foster clinical research partnerships.
Outlook: Nabota Poised for Global Leadership
Commenting on Nabota’s outlook, Yoon Joon-soo, Head of the Nabota Business Division, stated: “Nabota has firmly established itself as a trend-setting brand in the global aesthetic market. We aim to further enhance our global competitiveness and lead the way in the international medical aesthetics industry.”
With its strong second-quarter performance, surging demand for Nabota, and expanding global presence, Daewoong Pharmaceutical appears well-positioned to continue its growth in both revenue and market influence throughout 2025.
