AbbVie & Evolus Settle Cosmetics Commerce Secrets and techniques Go well with

The case of botox trade secrets is resolved after two years.

AbbVie and one of its marketing partners, Medytox, finally settled a lawsuit (after two years in court) accusing two competitors of Evolus and Daewoong Pharmaceuticals of stealing trade secrets that were used to create a competing botox treatment. The settlement comes after the U.S. International Trade Commission ruled late last year, based on an Allergan complaint in 2019, that imports of the competing treatment will be suspended for 21 months. AbbVie has since acquired allergen.

The settlement stipulates that Evolus will pay $ 35 million over two years in addition to undisclosed royalties in exchange for licenses that allow it to commercialize its Jeuveau® drugs in the United States and other countries. This emerges from a filing with the US Securities and Exchange Commission (SEC). Evolus will also issue shares in Medytox while it is under a contract to supply AbbVie with a newer version of its botox treatment. This product is currently being tested.

AbbVie also announced, “Under the settlement agreements, AbbVie and Medytox will release all claims against Evolus in connection with the alleged misappropriation of Medytox’s trade secrets and license Evolus to further commercialize Jeuveau® in the US and Nuceiva ™ in all other territories , in which Evolus holds license rights. “

Photo by Sam Moqadam on Unsplash

The settlement between AbbVie and Medytox and their competitors follows a separate lawsuit the marketing partner has filed in a California court against Daewoong for theft of trade secrets. In South Korea, where Daewoong is headquartered, Medytox has also filed a civil lawsuit seeking a criminal investigation.

Allergan and Medytox submitted in the complaint that a Medytox employee, BK Lee, a former researcher, had shared with Daewoong the results of his “careful, time-consuming and expensive research into a new method of manufacturing a treatment based on the deadly botulinum toxin” ” According to the complaint, “the researcher had access to proprietary information about the development of botulinum neurotoxin strains, as well as step-by-step manufacturing plans. “Allergan claimed,” Daewoong and Evolus would not have been able to successfully develop Jeuveau® as quickly as they would without access to information provided by Lee. “

“The process of converting the toxin into botox, which is also used to treat chronic migraines and urinary incontinence, has been kept top secret by Allergan so it has maintained its dominance since it was first approved for sale in 1989,” said the company Company court records. In the meantime, Daewoong and Evolus received Food and Drug Administration (FDA) approval to commercialize Jeuveau® based on the release of this information in the United States during 2019, and Medytox charged Daewoong in court with an “ongoing campaign, Medytox in hopes of smudging the compelling evidence of their unfair actions to obscure or confuse them. “

In 2020, Botox treatments generated sales of around $ 1.5 million for cosmetic purposes only. According to Geoffrey Porges, an analyst at SVB Leerink, that number is expected to exceed $ 1.8 billion by the end of this year.

Swell:

AbbVie smooths out a dispute over alleged trade secret theft for a new version of Botox

AbbVie, Evolus and Medytox announce that they have resolved intellectual property litigation

Evolus Botox Rival loses the first round against AbbVies Allergan

Comments are closed.