Eddie's "pleased" and "confident." Who wouldn't be? 08:35 AM EDT, 07/12/2021 (MT Newswires) -- Acerus Pharmaceuticals Corp.'s (ASP.TO) breach-of-contract lawsuit against manufacturing partner Recipharm Ltd. is set to head to a full trial in the coming months after the Commercial Court of London ruled in the company's favor at a preliminary trial.
Recipharm argued at the preliminary trial, held June 15, that Acerus' claim for damages was barred by the terms of the two companies' manufacturing contract for menopausal symptom relief treatment Estrace. The London court sided with Acerus and directed the case to a full trial, but Recipharm is seeking to appeal the decision, according to a Monday release.
The legal standoff stems from the suspension of Recipharm's manufacturing license in August 2018, leading to a shortage of Estrace stocks in Canada and negatively affecting Acerus' revenues and market share. Acerus is claiming damages for loss of profits and market share as a result of the shortage.
"We are pleased with the court's decision and are confident that the appeal process will resolve this issue in our favor," Acerus President and CEO Ed Gudaitis said.