BRIEF— Pharma Research Products gains majority ownership in a new generic botulinum toxin injection firm

Pharma Research Products Company, a South Korean publicly-listed firm engaged in the development of medical aesthetic products, announced that it has secured majority ownership of botulinum toxin type A injection (ReNtox) production facility of BioCND, a South Korean venture company.

The name of BioCND has been changed to Pharma Research BIO (PR Bio).

Financial terms of the transaction are not disclosed.

The newly-acquired-company has its plant located in the industrial estate at Gangneung-si on the east coast of South Korea.

The newly-built modern plant has been designed to meet the Ministry of Food and Drug Safety (MFDS - KFDA) Good Manufacturing Practices (GMP) guidelines. The 6,000 square meter plant has initial capacity of 2 million vials of the ReNtox per year.

The worldwide facial aesthetic market is estimated to have reached $6.5 billion in 2016.

This market is growing with a compound annual growth rate (CAGR) of 11.5% and expected to reach $17.2 billion by 2025.