NORTH CHICAGO, Ill.
and NEWPORT BEACH, Calif. and SEOUL, Feb. 19,
2021 /PRNewswire/ -- AbbVie (NYSE: ABBV), Evolus
(NASDAQ: EOLS) and Medytox announce settlement agreements to fully
resolve all outstanding litigation, including the United States
International Trade Commission (ITC) case regarding the sale of
Jeuveau®, between the companies. A California court case filed by Medytox against
Evolus will be dismissed.
Under the terms of the settlement agreements, AbbVie and Medytox
will release all claims against Evolus related to the alleged
misappropriation of Medytox's trade secrets and grant a license to
Evolus to continue to commercialize Jeuveau® in the United States and Nuceiva™ in all other
territories in which Evolus has licensing rights. AbbVie and
Medytox will receive milestone and royalty payments from Evolus. In
addition, Evolus will issue common stock to Medytox.
This agreement follows the final determination of the ITC on
December 16, 2020 which found a
misappropriation of Medytox's manufacturing trade secrets and
strain of C. botulinum and concluded that a violation of Section
337 of the Tariff Act of 1930 had occurred. As Daewoong
Pharmaceutical Co. Ltd. is not a party to the settlement
agreements, this settlement does not affect any legal rights,
positions, or proceedings between Medytox and Daewoong in Korea and
other countries.
About AbbVie
AbbVie's mission is to discover and
deliver innovative medicines that solve serious health issues today
and address the medical challenges of tomorrow. We strive to have a
remarkable impact on people's lives across several key therapeutic
areas: immunology, oncology, neuroscience, eye care, virology,
women's health and gastroenterology, in addition to products and
services across its Allergan Aesthetics portfolio. For more
information about AbbVie, please visit us
at www.abbvie.com.
Follow @abbvie on Twitter, Facebook, Instagram, YouTube and LinkedIn.
About Evolus, Inc.
Evolus is a performance beauty
company with a customer-centric approach focused on delivering
breakthrough products. In 2019, the U.S. Food and Drug
Administration approved Jeuveau® (prabotulinumtoxinA-xvfs), the
first and only neurotoxin dedicated exclusively to aesthetics and
manufactured in a state-of-the-art facility using Hi-Pure™
technology. Jeuveau® is powered by Evolus' unique technology
platform and is designed to transform the aesthetic market by
eliminating the friction points existing for customers today. Visit
us at: www.evolus.com.
Jeuveau® is a registered trademark and Nuceiva™ is a trademark
of Evolus, Inc.
Hi-Pure™ is a trademark of Daewoong Pharmaceutical Co, Ltd.
About Medytox
Medytox is a research-based bio
pharmaceutical company which developed a botulinum toxin product
for the first time in Korea (the fourth in the world), and engages
in the development, manufacture, marketing and sales of neurotoxin
products as its main business. Since its establishment in 2000,
Medytox has developed and evolved into a global world-class R&D
company with the successful launch of its main neurotoxin product.
Today, Medytox's neurotoxin products are sold in about 40 countries
with millions of people having already received therapeutic or
aesthetic treatments. For more information regarding Medytox, go
to: www.medytox.com.
View original
content:http://www.prnewswire.com/news-releases/abbvie-evolus-and-medytox-announce-resolution-of-intellectual-property-litigation-301231721.html
SOURCE AbbVie