Revance Therapeutics, Inc. (RVNC), today announced the release of its 2022 ESG Report, detailing the company’s progress towards its ESG priorities of innovation and access, workplace culture and strong corporate governance. The report was guided by the Sustainability Accounting Standards Board (SASB) framework.
“In 2022, we delivered on our promise to bring meaningful innovation to the market in order to address unmet patient needs with the FDA’s approval of the first peptide-formulated, long-acting neuromodulator, DAXXIFY® for glabellar lines. Our first product approval underscores our commitment to delivering value to all of our stakeholders,” said Mark J. Foley, Chief Executive Officer. “Building on this foundation, I’m proud to share our second ESG report, which details the progress we’ve made across our ESG priorities in support of our commitment to make a positive impact while operating sustainably and responsibly. In particular, our efforts to invest in our people and to build a diverse and inclusive culture continue to be a key component of our annual corporate goals. We look forward to building on these efforts as we launch DAXXIFY® in aesthetics and prepare for our entry into therapeutics.”
Revance’s 2022 ESG highlights:
- Completed first ESG materiality assessment and first enterprise risk management assessment with oversight by the Board.
- Conducted culture assessment across employee base to identify workplace culture strengths and opportunities and implemented measures in response to opportunity areas.
- Conducted first pay equity assessment for entire workforce.
- Expanded diversity and inclusion initiatives encompassing talent attraction, D&I educational programs, and women in leadership development programs.
- Achieved 100% of corporate goals related to people and D&I on which a portion of our annual corporate and executive bonuses are based.
- Continued to enhance executive compensation by increasing the emphasis of equity awards and bonuses tied to the achievement of corporate and performance goals.
- Enhanced disclosures related to the company’s supply chain and product quality and safety in support of the company’s commercial growth.
- Enhanced disclosures with the addition of responsible drug promotion practices to the company’s Code of Business Conduct and Ethics.
The full report can be found on the company’s sustainability page, link here.
Revance is a biotechnology company setting the new standard in healthcare with innovative aesthetic and therapeutic offerings that elevate patient and physician experiences. Revance’s aesthetics portfolio of expertly created products and services, including DAXXIFY® (DaxibotulinumtoxinA-lanm) for injection, the RHA® Collection of dermal fillers, and OPUL®, the first-of-its-kind Relational Commerce platform for aesthetic practices, deliver a differentiated and exclusive offering for the company’s elite practice partners and their consumers. Revance has also partnered with Viatris Inc. to develop a biosimilar to onabotulinumtoxinA for injection, which will compete in the existing short-acting neuromodulator marketplace. Revance’s therapeutics pipeline is currently focused on muscle movement disorders including evaluating DAXXIFY® in two debilitating conditions, cervical dystonia and upper limb spasticity.
Revance is headquartered in Nashville, Tennessee, with additional office locations in Newark, Pleasanton and Irvine, California. Learn more at www.Revance.com, www.RevanceAesthetics.com, www.DAXXIFY.com, or connect with us on LinkedIn.
“Revance” and the Revance logo, DAXXIFY®, and OPUL® are registered trademarks of Revance Therapeutics, Inc.
Resilient Hyaluronic Acid® and RHA® are trademarks of TEOXANE SA.
Any statements in this press release that are not statements of historical fact, including statements related to our ESG priorities; our ability to deliver value to our stakeholders; our commitment to operating sustainably and responsibly; our people goals; the commercial launch of DAXXIFY®; our entry into the therapeutics market; the potential to set a new standard of care; the potential benefits of our products and services, including DAXXIFY®, the RHA® Collection of dermal fillers and OPUL®; the extent to which our products and services are considered innovative and differentiated; development of a biosimilar to onabotulinumtoxinA for injection with our partner, Viatris; and our business strategy, timeline and other goals, plans and prospects, including our commercialization plans; constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. You should not rely upon forward-looking statements as predictions of future events. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee that the future results, levels of activity, performance, events, circumstances or achievements reflected in the forward-looking statements will ever be achieved or occur.
Forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from our expectations. These risks and uncertainties relate, but are not limited to: our ability to obtain funding for our operations; the timing of capital expenditures; the accuracy of our estimates regarding expenses, revenues, capital requirements, our financial performance and the economics of DAXXIFY®, the RHA® Collection of dermal fillers and OPUL®; the risk of future goodwill impairment charges; our ability to comply with our debt obligations and draw on our debt; the impact of the COVID-19 pandemic and other macroeconomic factors on our manufacturing operations, supply chain, end user demand for our products and services, the aesthetics market, commercialization efforts, business operations, regulatory meetings, inspections and approvals, clinical trials and other aspects of our business and on the market; our ability to maintain approval of our products; our ability and the ability of our partners to manufacture supplies for DAXXIFY® and our drug product candidates; our ability to acquire supplies of the RHA® Collection of dermal fillers; the uncertain clinical development process; our ability to obtain, and the timing relating to, regulatory submissions and approvals with respect to our drug product candidates and third-party manufacturers; the risk that clinical trials may not have an effective design or generate positive results or that positive results would assure regulatory approval or commercial success; the applicability of clinical study results to actual outcomes; the rate and degree of economic benefit, safety, efficacy, commercial acceptance, market, competition and/or size and growth potential of DAXXIFY®, the RHA® Collection of dermal fillers, and our drug product candidates, if approved; our ability to successfully commercialize DAXXIFY® and to continue to successfully commercialize the RHA® Collection of dermal fillers and OPUL®; the timing and cost of commercialization activities; the proper training and administration of our products by physicians and medical staff; our ability to expand sales and marketing capabilities; the status of commercial collaborations; changes in and failures to comply with laws and regulations; our ability to effectively manage our expanded operations in connection with the acquisition of Hint, Inc; the rate and degree of commercial acceptance, market, competition and growth potential of OPUL®; the profitability of and our ability to scale OPUL®, the features and functionalities and benefits to practices and patients of OPUL®; interruptions or performance problems associated with OPUL®; our ability to continue obtaining and maintaining intellectual property protection for our products; the cost and our ability to defend ourselves in product liability, intellectual property, class action or other lawsuits; the volatility of our stock price; and other risks. Detailed information regarding factors that may cause actual results to differ materially from the results expressed or implied by statements in this press release may be found in our periodic filings with the Securities and Exchange Commission (SEC), including factors described in the section entitled "Risks Factors" on our Form 10-K, which was filed with the SEC on February 28, 2023. The forward-looking statements in this press release speak only as of the date hereof. We disclaim any obligation to update these forward-looking statements.