FDA approves cheaper Botox rival
Preparing the way for competition in the US aesthetic neurotoxin market, the US Food and Drug Administration has approved Evolus’ (Nasdaq: EOLS) lead product, Jeuveau (prabotulinumtoxinA-xvfs), for the temporary improvement in the appearance of moderate to severe glabellar (frown) lines associated with corrugator and/or procerus muscle activity in adults.
Jeuveau will come to the market as a cheaper rival to Allergan’s (NYSE: AGN) Botox (onabotulinumtoxinA), which generated global sales of $3.6 billion last year.
Announced late Friday, the news sent Evolus’ shares up 12.11% to $18.33 by close and up a further 16.48% to $21.35 in after-hours trading.
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