Galderma Shares Slump After FDA Turns Down Botox Rival Relfydess

Galderma Group AG announced that the U.S. Food and Drug Administration rejected its application for Relfydess, a botulinum toxin treatment. The company's shares fell on the news. Relfydess was being developed as a competitor to Allergan's Botox, which is used to treat facial wrinkles and other conditions requiring neurotoxin injections.

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