UK Markets closed

Daewoong Pharmaceutical Welcomes ITC Decision to Review Judge’s Initial Determination

·2-min read

Daewoong Pharmaceutical Co., Ltd. today commented on the decision by the United States International Trade Commission to comprehensively reconsider a judge’s initial determination in the case.

Daewoong and its partner Evolus, Inc. contend the judge’s initial determination contained significant legal and factual errors and, if adopted as final by the ITC, risks setting dangerous policy precedents. The ITC has announced it will review several issues as requested by Daewoong and Evolus, including subject matter jurisdiction, standing, trade secret existence and misappropriation, and domestic industry. As part of its review process, the ITC has solicited comments on the public interest implications relating to the issues under review. The ultimate outcome of the ITC’s review could be a reversal or shortening of the 10-year import ban that was initially recommended by the judge.

Daewoong issued the following comment on the ITC’s decision:

"We are pleased that the ITC agreed with us and the more than 70 top trade secrets experts, economists, free-market think tanks and doctors who urged the ITC to review this case. Reversing the judge on key findings on which he based a misguided 10-year import ban would not only be a victory for Daewoong and our U.S.-based partner Evolus, but also for American consumers, doctors, innovation and competition. In the meantime, Jeuveau remains available to U.S. consumers who are increasingly choosing it for its advantages over Botox.

Daewoong looks forward to briefing these issues, and to a robust discussion of the dangerous public interest implications of the initial determination."

View source version on businesswire.com: https://www.businesswire.com/news/home/20200922005539/en/

Contacts

Media
Trent Duffy / Scott Lindlaw / Reze Wong / Celia de Pentheny O'Kelly
Daewoong-SVC@sardverb.com
202.318.3800 / 415.618.8750