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News Breaks | | | | October 8, 2012 | | 08:31 EDT |  | MRX | Revance regains all worldwide rights to botulinum toxin products
Revance Therapeutics announced a settlement and termination agreement for its contractual relationships with Medicis Pharmaceutical Corporation 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. Under the terms of the agreement, Revance will make an upfront payment to Medicis of $7M and up to an additional $18M based on certain events. In return, the RT001 Option Agreement and related agreements, and the 2009 RT002 License Agreement will be terminated in their entirety. Medicis will retain its current equity ownership in Revance. Additional terms of the agreement were not disclosed. | |
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