Hugel Inc., a global medical aesthetics company and South Korea’s leading company in the botulinum toxin and hyaluronic acid fillers market, announced to convene an extraordinary general shareholders’ meeting to appoint Brent Saunders to the Board as a non-executive director. Once his appointment is approved at the shareholders’ meeting on June 29th, it is expected that he will serve as the Chairman of Hugel’s Board.
“With their commitment to operational excellence, customer service and R&D, our future is very bright.”
The news comes on the heels of the Hugel Inc. transaction by a consortium led by CBC Group (“CBC”), Asia’s largest healthcare-dedicated investment firm. Michael Keyoung, the head of North America and Korea business of CBC stated, “As the Aphrodite Consortium completes the transaction, we have strong confidence in Hugel’s global growth potential. The addition of Brent Saunders is a significant milestone for propelling Hugel towards remarkable and sustainable global growth, further solidifying Hugel’s efforts to advance into the global market.”
Known as a world-class expert in the industry, Brent Saunders previously served as Chairman, President, and CEO of Allergan Aesthetics until its 2020 acquisition by AbbVie for $63 billion. Allergan Aesthetics is the manufacturer of Botox, the world’s top-selling botulinum toxin brand, as well as the leading dermal filler Juvéderm. Earlier in his career, Mr. Saunders was President of Schering-Plough Corporation’s Global Consumer Healthcare division where he facilitated the company’s acquisition of Organon Biosciences and the merger between Schering-Plough and Merck. Mr. Saunders also served as President and CEO of Forest Laboratories from 2013 to 2014, and Chairman and CEO of Bausch + Lomb Incorporated from 2010 to 2013. He currently serves as CEO of Vesper Healthcare Acquisition Corp.
“I am excited to join the world class team at Hugel and CBC to continue building a global leader in medical aesthetics,” said Brent Saunders. “With their commitment to operational excellence, customer service and R&D, our future is very bright.”
“We are thrilled to welcome Brent Saunders to the Hugel Board of Directors,” said James Hartman, President, Hugel America. “His impressive experience and expertise will be invaluable as we work towards becoming a top aesthetics company in the US, Canada and Australia that offers high quality, accessible beauty solutions.”
This appointment comes as Hugel is accelerating its efforts toward becoming a leading global medical aesthetics company. Hugel’s botulinum toxin type A has been the market leader for six consecutive years and HA fillers for 3 consecutive years in South Korea, one of the world’s most dynamic aesthetic markets. The company is distributing its medical aesthetic products in 47 countries globally. The company obtained its marketing approval for botulinum toxin, Letybo, in China in late 2020, and rapidly gained a 10% market share over its first year. Letybo was recently approved in Europe, and later this year, pending approval, plans to expand into additional markets, including Australia and Canada. In the United States, Hugel is progressing toward FDA approval and commercialization in 2023, opening a tremendous opportunity in the world’s largest medical aesthetics market, further propelling the company’s growth.
About Hugel America, Inc. (Hugel Aesthetics)
Hugel America, Inc. (Hugel Aesthetics) is a growth-focused joint venture between aesthetic marketing leading partners, Hugel, Inc and Croma-Pharma GmbH, focused on commercializing a synergistic aesthetic portfolio in the United States, Canada, Australia, and New Zealand. Hugel Aesthetics is dedicated to making aesthetics more attainable for all. For more information, visit: www.hugel-aesthetics.com
About Hugel, Inc.
Established in Korea in 2001, Hugel, Inc. is a global leader in medical aesthetics providing botulinum toxin formulation BOTULAX / LETYBO, HA filler The CHAEUM / DERMALAX, and derma cosmetic WELLAGE / PR4 brands. Dedicated to providing proven, high quality medical aesthetic solutions that satisfy both consumers’ and practitioners’ needs, Hugel is leading Korean market for both botulinum toxin and HA filler products and is distributing its products to over 40 countries. Hugel, Inc. is listed on the Korea Stock Exchange in stock code 145020.KQ。For more information about Hugel, Inc., please visit the company website www.hugel.co.kr/en.
