China Medical System Holdings (CMS; HKG: 0867) has announced the establishment of a licensing agreement with South Korea-based BMI Korea Co., Ltd. The agreement grants CMS exclusive development, regulatory filing, importing, and commercialization rights to BMI’s injectable botulinum toxin type A 100U freeze-dried powder in mainland China, Hong Kong, and Macau. The initial term of the agreement is 10 years. Financial details were not disclosed.
Product Details and Clinical Results
BMI’s injectable botulinum toxin type A is used to temporarily improve moderate to severe brow wrinkles caused by corrugator and/or interbrow depressor activity in adults aged 19 to 65 years. Phase III clinical trial results in South Korea have demonstrated that the product is effective and safe compared to Botox. The product is currently under regulatory review in South Korea.
Market Outlook for Botulinum Toxin in China
China’s botulinum toxin market was valued at RMB 3.9 billion ($548 million) in 2020, with a compound growth rate of 26.9% from 2016. The market is expected to grow to RMB 11.4 billion ($1.6 billion) by 2025 and RMB 29.6 billion ($4.16 billion) by 2030, with a compound annual growth rate (CAGR) of 21.1%.-Fineline Info & Tech
