AbbVie, Evolus, and Medytox Announce Resolution of Intellectual Property Litigation
AbbVie Inc. (ABBV)
Last abbvie inc. earnings: 5/1 07:43 am
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Source: PR Newswire
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 M
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