Treatment for severe eye wrinkles awaits clinical trial

With approval from the Ministry of Food and Drug Safety, Huons is preparing to conduct phase one and three clinical trials for Hutox as a treatment for eye wrinkles.

Hutox will be tested for safety as well as efficacy in reducing wrinkles around the eyes.

Currently, the company is running phase three trails for Hutox in the United States for forehead wrinkle treatment, for which it expects to receive sales approval in Korea next year.

Laying the groundwork

The company is ready with plans to export Hutox overseas. It has already secured ₩190b worth of export contracts from Brazil, Iran, Russia, and Europe.

In order to keep up with global demands, Huons has plans to build a second factory to provide a stable supply of Hutox. The company says the new plant will be five times more productive than its first.

The second factory is scheduled for completion in the second half of the year. Once it is up and running, both factories will be able to produce approximately six million vials of Hutox together annually.

Rising global demand

The global Botox, or botunlinum toxin, market is currently worth an estimated $3.5b. In Korea, three companies dominate the market for Botox injections – Medytox, Hugel and Daewoong Pharmaceutical.

Apart from aesthetic surgery, the therapeutic effects of Botox have been proven effective in treating eyelid seizures, crossed eyes as well as excessive sweating. With Botox expanding beyond cosmetic procedures, it has experienced a steady increase in demand.

Huons research and development in the cosmetic field is the first step before it expands the use of Hutox into the medical industry, where its various uses will help them obtain a competitive edge in both domestic and overseas markets.

Record high earnings

On Tuesday, Huons Global reported that together with its subsidiaries, the company achieved ₩93.2b ($82.4b) in sales during its second quarter this year, 13.6% more than last year.

“Huons Global's record high earnings in the second quarter were driven by sales growth from its subsidiaries such as Huons, Hubena and Huons Medicare,” said the company.

With the imminent approval of Hutox, Huons Global is expecting more growth within its subsidiaries in the second half of the year.