Revance's Botox rival gets FDA approval for painful neck muscle condition

The U.S. Food and Drug Administration's green light for the application of Revance Therapeutics' Daxxify has elevated the competition between this anti-wrinkle injection and Botox.

Cervical dystonia accounts for about $345 million of that market. The painful condition involves involuntary contraction of neck muscles and causes the head to twist to one side.

Revance will move into a preview phase with some doctors and key opinion leaders (KOLs) initially after the approval, company executives told Reuters before the decision.

"We'll use that group as our faculty to then train that broader launch group which will be in 2024," President Dustin Sjuts said.