Evolus Provides Update on International Trade Commission (ITC) Case
Company Remains Confident in its Intellectual Property and the Overall Merits of the Case
NEWPORT BEACH, Calif., March 04, 2020 (GLOBE NEWSWIRE) -- Evolus, Inc. (NASDAQ: EOLS) today provided the following statement:
“In several media reports this week, Medytox has made comments on the International Trade Commission (ITC) case, which Evolus believes are speculative and intended to create confusion in the U.S. market ahead of the ITC Judge’s initial determination in June 2020 and the ITC’s final determination, which is targeted for October 2020.
Importantly, nothing has changed as a result of the media reports from Korea.
The ITC Judge will make his own independent decision based upon all the evidence presented at the hearing and through all of the parties’ filings. The Judge assigned to the ITC case is not obligated to accept a staff attorney’s position on the facts, and it’s fairly common for the Judge and the staff attorney to disagree on substantive matters.
Evolus and Daewoong remain confident in the strength of our intellectual property and will continue to vigorously defend it through the entirety of the ITC process.
In addition, numerous claims have been made in the Korean press regarding settlement discussions related to the ITC proceedings. It is the company’s policy to not confirm or comment on settlement discussions.”
About the International Trade Commission (ITC) Proceedings
Prior to the ITC hearings held February 4 - 7, and after the hearings, all parties involved in the case, including the staff attorney, were required to submit briefs to the Judge. This is a routine part of the proceedings. All of these briefs are currently posted as “confidential” on the ITC’s website. The “public” versions of the briefs are not yet available and are subject to redactions of confidential information prior to their release.
About Evolus, Inc.
Evolus is a performance beauty company with a customer-centric approach focused on delivering breakthrough products. In 2019, the U.S. Food and Drug Administration approved Jeuveau® (prabotulinumtoxinA-xvfs), the first and only neurotoxin dedicated exclusively to aesthetics and manufactured in a state-of-the-art facility using Hi-Pure™ technology. Jeuveau® is powered by Evolus' unique technology platform and is designed to transform the aesthetic market by eliminating the friction points existing for customers today. Visit us at: .
Jeuveau® is a registered trademark of Evolus, Inc.
Hi-Pure™ is a trademark of Daewoong Pharmaceutical Co, Ltd.
Evolus, Inc. Contacts:
Investor Contact:
Ashwin Agarwal, Evolus, Inc.
Vice President, Finance, Investor Relations & Treasury
Tel:
Email:
Media Contact:
Crystal Muilenburg, Evolus, Inc.
Vice President, Corporate Communications & Public Relations
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Forward-Looking Statements
This statement contains forward-looking statements as defined under the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, are statements that could be deemed forward-looking statements, including statements that relate to the status of regulatory processes, future plans, events, prospects or performance and statements containing the words “plans,” “expects,” “believes,” “strategy,” “opportunity,” “anticipates,” “outlook,” “designed,” or other forms of these words or similar expressions, although not all forward-looking statements contain these identifying words. The company’s forward-looking statements include, but are not limited to, statements related to the strength of our intellectual property and the status and outlook of ongoing litigation.
Forward-looking statements are based on current estimates and assumptions made by management of the company and are believed to be reasonable, though they are inherently uncertain and difficult to predict. Forward-looking statements involve risks and uncertainties that could cause actual results or experience to differ materially from that expressed or implied by the forward-looking statements. Other factors that could cause actual results or experience to differ materially from that expressed or implied by the forward-looking statements include uncertainties associated with the success of the launch of Jeuveau®, customer and consumer adoption of the product, competition and market dynamics, our ongoing legal proceedings and our ability to maintain regulatory approval of Jeuveau® and other risks described in the section entitled “Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2019 as filed with the Securities and Exchange Commission on February 25, 2020 which is available online at Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. Except as required by law, Evolus undertakes no obligation to update or revise any forward-looking statements to reflect new information, changed circumstances or unanticipated events. If the company does update or revise one or more of these statements, investors and others should not conclude that the company will make additional updates or corrections.
