Evolus Inc. Transitions into a New Chapter Under General Counsel Jeffrey Plumer
Evolus Inc., a company known for its work in medical aesthetics, is shifting from its early startup days to a more established phase as a public company on the Nasdaq (EOLS) in Orange County. General Counsel Jeffrey Plumer has been a key player in this transition, witnessing firsthand the growth of the Newport Beach-based firm.
Over the past few years, Evolus has reached significant milestones, including its initial public offering in 2018 and the launch of its key neurotoxin product, along with recent efforts to enter international markets. Plumer reflects on these moments, noting that each presented challenges that required new solutions. “Every time we grew, I had to adapt and learn, whether facing difficulties or celebrating successes,” he shared.
From Outside Counsel to In-House Expertise
Before joining Evolus, Plumer served as outside counsel for the company’s parent organization, Alphaeon Corp. In 2014, during the preparations for Evolus’ public offering, he was invited to take on an in-house role. With prior experience handling several IPOs while at K&L Gates, he saw this position as an opportunity to fully engage with a company’s journey beyond just the initial public listing.
“At Evolus, I’m able to explore what it’s like to guide a company through its entire lifecycle,” Plumer explained. He embraced the chance to expand his knowledge in compliance, international contracts, and product licensing, crucial areas as the company grew.
Recently, Evolus reported its first-ever operating profit ahead of schedule and aims to reach a market cap of $700 million by 2028, up from last year’s revenue of over $200 million. “We’re just starting our international launch,” Plumer said, expressing optimism for future growth.
The company is also preparing to introduce a new product in the medical device sector next year. This marks a new regulatory environment for Plumer, who is already managing the successful Jeuveau, an injection aimed at reducing frown lines.
A Role in Protecting the Business
When Plumer entered law school, he initially thought he would pursue a career in litigation. However, his early career exposed him to both litigation and corporate law, leading him to consider the role of general counsel. Attending the OCBJ General Counsel Awards introduced him to the world of in-house legal work.
For six years, he served as vice president of legal and corporate secretary at Evolus before his promotion to general counsel in 2020. In this role, he manages all legal and compliance matters, including the FDA approval process for Jeuveau.
During his promotion, Evolus faced a significant challenge involving an international trade case that threatened its importation of Jeuveau. This demanded frequent trips to South Korea as negotiations unfolded. “We believed we had a valuable business to protect,” Plumer said, emphasizing the importance of choosing the right approach rather than jumping into litigation.
The case was ultimately settled in 2021, preserving Jeuveau’s presence in the market, thanks to strong leadership from CEO David Moatazedi during those tough times. "He brought a positive outlook that was crucial for us,” Plumer noted.
A Commitment to Longevity
Plumer values the unique position of Evolus at the crossroads of health and beauty. While consumers see treatments like Jeuveau as beauty-enhancing options, the FDA categorizes them differently, underscoring the dual nature of the business.
He recalls being impressed by Jeuveau’s potential to compete with Botox, recognizing that the market thrives on consumer preferences for desired products. Last year, he successfully negotiated a licensing agreement for Evolus to be the exclusive U.S. distributor for a new line of dermal fillers named Evolysse, which is now in the final development stages.
Evolus has also expanded its international presence, starting in the UK and Europe in 2022 and most recently launching operations in Australia. “Our goal is to establish ourselves among the enduring public companies in Orange County,” he concluded, ensuring that Evolus is not just another name in the market but a lasting entity in the industry.
