RTTNews | Feb 19, 2021 10:36AM EST

10:35 Friday, February 19, 2021 (RTTNews.com) - Shares of medical aesthetic products maker Evolus, Inc. (EOLS) are up more than 50% Friday morning following the company's settlement agreement with AbbVie, and Medytox.

This settlement resolves all outstanding litigation, including the U.S. International Trade Commission (ITC) case regarding the sale of Evolus' Jeuveau, a botulinum toxin type A injection used to treat wrinkles. Jeuveau was approved by the FDA in 2019.

As per the deal, AbbVie and Medytox have agreed to release all claims against Evolus related to the alleged misappropriation of Medytox's trade secrets and grant a license to Evolus allowing it to commercialize Jeuveau in all the territories where Evolus has licensing rights.

EOLS touched anew high of $14.81, before slipping to trade at $10.81 currently.

Read the original article on RTTNews ( https://www.rttnews.com/3171318/evolus-soars-50-after-it-settles-with-abbvie-and-medytox.aspx)

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