Hugel and BENEV said on Tuesday that they have officially launched Hugel’s botulinum toxin (BTX) product Letybo (Korean brand name: Botulax) in the U.S.
Hugel and BENEV have officially launched Letybo, Hugel’s botulinum toxin product, in the U.S. market, aiming to capture a 10 percent market share within three years.
Hugel and BENEV have officially launched Letybo, Hugel’s botulinum toxin product, in the U.S. market, aiming to capture a 10 percent market share within three years.
As the sixth BTX product to gain FDA approval in more than two decades, Letybo offers American healthcare providers a new treatment option for glabellar lines, backed by robust clinical data and a proven international track record. The product is now fully commercialized in the U.S., with initial sales set to begin by the end of July.
Supported by extensive clinical research, Letybo has become a globally recognized brand over the past decade. The active ingredient, letibotulinumtoxinA, has been featured in more than 29 peer-reviewed studies, and the product is approved in over 65 countries, with more than 31 million successful treatments performed worldwide. Letybo currently holds the most market share in Korea’s BTX market.
“We are honored to join forces with Hugel to bring Letybo to the U.S. market,” BENEV CEO Ethan Min said. “This partnership with Hugel allows us to strengthen our market position and fulfill our mission to Benefit EVeryone through transformative aesthetic solutions.”
Hugel Representative Executive Officer Moon Hyoung-jin also said, “Our shared philosophies, including a commitment to provide premium products and education, science and technology, position us to offer a compelling service to the market.”
Meanwhile, the launch comes after nearly a year of negotiations with multiple potential partners. Hugel selected BENEV from among five contenders in July 2024, emphasizing BENEV’s strong distribution capabilities and established portfolio of innovative aesthetic solutions, including exosomes, PDO threads, and RF micro-needles.
Instead of delegating all sales and distribution rights to its partner, Hugel will co-market the product with BENEV and Hugel America, its U.S. affiliate.
Looking ahead, Hugel aims to capture 10 percent of the U.S. botulinum toxin market within three years, leveraging both BENEV’s local network and successful overseas strategies already proven in markets such as Australia and Canada.
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Lee Han-soo corea022@docdocdoc.co.kr
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