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Takeda Guilty Of Supply Contract Breach With AbbVie For Prostate Cancer Drug

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  • In a spat between Takeda Pharmaceutical Co Ltd (NYSE: TAK) and AbbVie Inc (NYSE: ABBV) for Lupron (leuprorelin), a Delaware judge has issued a ruling in favor of AbbVie.

  • The new ruling found that Takeda is guilty of breach of contract for failing to supply its partner with the prostate cancer drug.

  • AbbVie claims that Takeda is responsible for supply chain problems that have led to worldwide shortages.

  • Takeda did not supply AbbVie with enough inventory to fulfill orders from April 2020 until at least March 2021. 106 lots of Lupron had been ordered, with only 41 delivered.

  • AbbVie developed the medicine and distributed it in the U.S and Canada, while Takeda is the drug's sole manufacturer.

  • Glasscock ruled that Takeda failed to maintain the plant in compliance with good manufacturing practices and maintain a safe stock of the drug.

  • Lupron has been in short supply worldwide since 2019 when the company and the FDA discovered "protocol violations" at the plant.

  • Price Action: TAK stock is down 1.46% at $16.90, while ABBV stock is down 0.71% at $106.60 during the market session on the last check Friday.

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