Allergan (AGN-0.1%) and development partner Medytox have filed a complaint with the U.S. International Trade Commission aimed at stopping the market launch of a competitor to top seller Botox. The product, DWP-450, developed by South Korea's Daewoong Pharmaceuticals and licensed to Evolus (EOLS+3.3%), is expected to be approved by the FDA any time (specific action date is Saturday). If approved, Evolus is expected to launch it at a price about 25% below Allergan's.
South Korea-based Medytox claims that a former employee gave Daewoong the results of its research on a new manufacturing process for the botulinum toxin. The latter markets its product in South Korea under the brand name Nabota and plans to sell it elsewhere under the name Jeuveau.
Allergan and Medytox are working on a next-generation drug but it will not be approved in the U.S. until 2022.
Litigation in Korea between Medytox and Daewoong is ongoing. Apparently, there is also a criminal investigation into Daewoong and the former Medytox employee. https://seekingalpha.com/news/3428309-allergan-angling-stop-u-s-sales-botox-competitor?app=1