Revance Therapeutics Regains All Worldwide Rights to Its Botulinum Toxin Products; Will Make Upfront Payment of $7M, Up to Added $18M Payments; Medicis Will Keep Equity Stake in Revance
Revance Therapeutics, Inc. (Revance) today announced a settlement and termination agreement for its contractual relationships with Medicis Pharmaceutical Corporation (NYSE: MRX) concerning RT001 Botulinum Toxin Type A Topical Gel and RT002 Injectable Botulinum Toxin Type A. As part of the settlement, all worldwide rights to develop and commercialize both products across all indications will be returned to Revance. The agreement will also resolve the outstanding litigation between the companies.
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