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AbbVie settles fight against trade secrets with Evolus, winning $ 35 million and royalties on botox rival Jeuveau

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AbbVies’ most recent sources of income come from Evolus and its competitor Botox Jeuveau.

To settle a long-standing legal battle, Evolus will pay Allergan and its partner Medytox $ 35 million in cash, plus royalties on US sales of Jeuveau, according to an Evolus SEC filing.

The regulationends all legal claims that the trio had brought against each other and ends the California lawsuit filed by Medytox against Evolus. AbbVie and Medytox also agreed to ask the International Trade Commission to overturn its import ban on Evolus, which had kept Jeuveau out of the US market.

RELATED: AbbVie Shoots First Blood In Allergan’s Botox Trade Secrets War And Evolus

Evolus will pay confidential royalties calculated on the price of the bottle of Jeuveau sold, indicates the Evolus deposit. SVB Leerink

AbbVie and Evolus have been locked in a long trade secret battle involving the South Korean partners of the two drugmakers and the blockbuster Botox. The back-and-forth came against Evolus in July when a US ITC judge issued a ruling that could have banned Jeuveau in the US for 10 years. Then, in December, the ITC officially imposed a 21-month import ban on Jeuveau.

This week, however, the tide turned for Evolus when a U.S. appeals court ruled to temporarily allow Jeuveau to remain in the U.S. market while it reconsidered ITC’s import ban.

RELATED: AbbVie’s Botox Wins Stay as Agency Bar Jeaveau from Evolus for Alleged Trade Secret Theft

The new agreement also addresses the problems of the old United States. Evolus and Medytox have entered into a separate settlement and license agreement and terminated their claims against each other.

The settlement gives Evolus a license to sell Nuceiva, as Jeuveau is known outside the United States, Canada, the European Union, Australia, Japan, Russia and other countries in exchange for 6, 76 million ordinary shares issued to Medytox as well as royalties on the sales of Jeuveau in these countries and in the United States

Evolus shares grew by 70% thanks to positive news. Leerink wrote in an analyst note that he intends to continue as Evolus becomes “an investable name again and most importantly, Jeuveau sales rebound”.

Evolus launched Jeuveau in the United States in mid-2019 and began a nationwide advertising and promotional campaign in April 2020. Evolus tackled well-established market leader Botox with a campaign that surveyed its target customers 24 to 39 years old Have you tried a modern day toxin?

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