The previous week was not a particularly great week in the capital markets for Endo International Plc (NASDAQ:ENDP) as the company saw its stock tank by as much as 9% through the period.
The company had a setback back on August 31, 2021 when the United States District Court for the District of Delaware ruled that Eagle Pharmaceuticals Inc had not infringed on patents of Endo in relation to the VASOSTRICT product from Par Sterile Products LLC. In essence, the court did not find any infringement of patents from Endo when it came to the product from Eagle Pharmaceuticals.
Hence, it was no surprise that the stock went on a bit of a downward spiral last week. The Chief Legal Officer and Executive Vice President of the company Matthew J. Maletta, spoke about the development and expressed his disappointment at the turn of events. However, he went on to state that the company was planning to lodge an appeal against the decision from the court.
Hence, it appears that the saga might not be completely over and investors could do well to keep a close eye on the developments over the course of the coming days.