Takeda Guilty Of Supply Contract Breach With AbbVie For Prostate Cancer Drug - Takeda Pharmaceutical (OTC:TKPHF), AbbVie (NYSE:ABBV), Takeda Pharmaceutical (NYSE:TAK)

In a spat between Takeda Pharmaceutical Co Ltd TAK and AbbVie Inc 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.