|Medytox sets up a booth at the 35th Reunion Anual de Dermatologos Latinoamericanos (RADLA), the largest gathering of dermatologists in Latin America, in Bogota, Columbia. Korea's largest botulinum toxin and dermal fillers maker took part in the RADLA from May 26 to 29, attracting tens of thousands of visitors interested in its anti-wrinkle products and other cosmetics. / Courtesy of Medytox|
By Lee Hyo-sik
Medytox, Korea's largest maker of botulinum toxin and dermal fillers, has stepped up efforts to bolster its presence in Latin America to capitalize on the region's rapidly growing cosmetic beauty market.
It set up a booth at the 35th Reunion Anual de Dermatologos Latinoamericanos (RADLA), the largest gathering of dermatologists in Latin America, in Bogota, Columbia, on May 26-29, attracting tens of thousands of visitors interested in its anti-wrinkle products and other cosmetics.
"We have obtained approval from Brazil and 13 other countries in the region for the sale of our botulinum toxin and filler products," a Medytox official said. "We are encouraged by a great deal of interest from plastic surgeons and other medical professionals in our Meditoxin and Neuramis. We will bolster our sales and marketing activities in cooperation with local partners to expand our market share."
Brazil is Medytox's third-largest export market after Japan and Thailand, according to the official, who said a growing number of people in Latin America are undergoing cosmetic treatments to look younger and prettier.
"The demand for botulinum toxin, dermal fillers and other cosmetic beauty items has been increasing sharply in the region. We will take all possible measures to expand our reach in the region so that consumers there can benefit from our state-of-the-art products."
In the first three months of the year, Medytox earned 40.5 billion won ($35.8 million) in sales, up 41 percent from a year earlier. Its operating profit jumped 29 percent to 21.2 billion won.
The company operates three manufacturing facilities and two research centers in Korea, and has set up wholly-owned subsidies or joint firms in China, Japan, Thailand, Hong Kong and Taiwan.