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soma2022

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soma2022

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Monday, 03/18/2024 2:05:35 PM

Monday, March 18, 2024 2:05:35 PM

Post# of 7575
Hugel got FDA Approval earlier this month for Letybo with plans to commercially launch by 2nd half of 2024. This is a Korean made Botox competitor that is the leading NT in Korean. It has already entered China, Europe, Canada and Australia. Feeling here is that they will compete well on price, and unlike Revance, they are already profitable. I have yet to hear about pricing and hear that performance is similar to Botox. They need to hire and train a salesforce so I am not sure on when they truly start selling to doctors.

https://www.prnewswire.com/news-releases/hugel-receives-us-fda-approval-for-its-botulinum-toxin-letybo-302077919.html

https://www.prnewswire.com/news-releases/hugel-achieves-record-high-revenue-and-operating-profit-302061497.html

$70M in total sales of NT and filler and $12M net profit last quarter of 2023.
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