By Colin Kellaher

 

Shares of Evolus Inc. fell more than 40% in premarket trading Tuesday after the company and its partner Daewoong Pharmaceutical Co. lost an early round in their trade dispute with AbbVie Inc.'s Allergan and its partner Medytox.

On Monday, Evolus said the administrative law judge overseeing the U.S. International Trade Commission case brought by Allergan and Medytox found a violation of the unfair practices section of the Tariff Act of 1930.

Allergan and Medytox filed the complaint last year seeking to block U.S. imports of Jeuveau, a rival to Allergan's Botox, claiming it was developed using stolen manufacturing secrets.

Evolus said it disagrees with the initial determination and that it will seek a review by the full commission, adding that the ITC's final determination is targeted for Nov. 6.

Shares of Evolus, which closed Monday at $5.32, were down 41% to $3.14 in premarket trading Tuesday.

 

Write to Colin Kellaher at colin.kellaher@wsj.com

 

(END) Dow Jones Newswires

July 07, 2020 09:27 ET (13:27 GMT)

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