Evolus falls after legal setback for Botox partner in Korea (Updated)

seekingalpha2023-02-11

Update 12:10PM EST: Adds comments from Evolus (NASDAQ:EOLS) Evolus, Inc. (EOLS) lost sharply in the morning hours Friday after its partner for Jeuveau Botox, Daewoong Pharmaceutical lost a civil ...

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(EOLS) lost sharply in the morning hours Friday after its partner for Jeuveau Botox, Daewoong Pharmaceutical lost a civil ...</p>\n\n<a href=\"https://seekingalpha.com/news/3934841-eols-stock-falls-after-legal-setback-botox-partner-korea\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4139","symbol_name":"生物科技","start_time":0,"source_url":"https://seekingalpha.com/news/3934841-eols-stock-falls-after-legal-setback-botox-partner-korea","article_id":"2310400677","we_media_id":null,"thumbnails":["https://static.seekingalpha.com/cdn/s3/uploads/getty_images/1411630763/image_1411630763.jpg"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2310400677","pubTimestamp":1676049059,"sourceInfo":{"source_id":"seekingalpha","name":"Seeking Alpha"},"weMediaInfo":null,"summary":"Update 12:10PM EST: Adds comments from Evolus (NASDAQ:EOLS) Evolus, Inc. (EOLS) lost sharply in the ","collect":0,"end_time":0,"defaultTopTitle":"seekingalpha.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4139":"生物科技","EOLS":"Evolus Inc.","BK4007":"制药"},"translate_title":"Evolus在韩国肉毒杆菌合作伙伴遭遇法律挫折后下跌（更新）","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"BTX":1,"EOLS":1},"content_text":"Update 12:10PM EST: Adds comments from Evolus (NASDAQ:EOLS) Evolus, Inc. (EOLS) lost sharply in the morning hours Friday after its partner for Jeuveau Botox, Daewoong Pharmaceutical lost a civil lawsuit in Korea regarding the source of the latter's botulinum toxin (BTX) strain. As part of the ruling, the Seoul Central District Court ordered Daewoong to compensate South Korea's botulinum toxin maker Medytox for alleged infringement of trade secrets. According to media reports, the ruling requires Daewoong to pay 40B won ($31.6M) damages, hand over its BTX strain to Medytox, and discard all finished BTX products made with the strain. Daewoong intends to appeal. Evolus (EOLS) relies on Daewoong as its exclusive and sole supplier to manufacture Jeuveau following a 2013 agreement. However, Stifel was quick to defend Evolus (EOLS) despite the legal setback for its partner. The firm thinks the legal battle is unlikely to impact Evolus (EOLS) due to a settlement the company reached with Medytox in February 2021. Stifel reiterated the Buy rating and $20 target on the stock noting that \"EOLS is indemnified from any outcome of Korean litigation and business remains untouched.\" In a statement on Friday, Evolus (EOLS) said that the court ruling would not impact the production, export, or supply of its wrinkle injections, Jeuveau or Nuceiva.  “Settlement agreement with Medytox provided for continued manufacturing and commercialization for Evolus regardless of any litigation between Medytox and Daewoong,” the company added. Read: Seeking Alpha contributor Terry Chrisomalis expects Jeuveau to add $500M in organic net revenue by 2028.","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.2","shortVersion":"4.29.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2310400677"}