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Allergan Slides, Evolus Gains as FDA Approves Wrinkle Treatment to Rival Botox

Martin Baccardax

shares fell almost 4% and Evolus Inc. shares gained almost 12% Monday after the U.S. Food and Drug Administration approved Evolus's new wrinkle treatment for adult patients which is expected to rival Allergan's Botox. The treatment, called Jeuveau, received FDA approval late Friday, some eight months after the agency first rejected the application citing deficiencies in its manufacturing and chemical composition.