Deals & Corporate Governance
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September 04, 2024
J&J Hit With $1B Damages In Del. Merger Milestone Fight
Johnson & Johnson owes more than $1 billion to a medical robotics developer and entrepreneur caught up in a multibillion-dollar post-acquisition dispute, a Delaware vice chancellor ruled Wednesday.
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September 03, 2024
Teva Investors Get Go-Ahead To Resume Kickbacks Class Suit
A shareholder's certified class action against pharmaceutical company Teva can resume after being paused for two years, as the company says it is working towards a settlement with the U.S. Department of Justice over related claims it used kickbacks to raise the price of its multiple sclerosis drug Copaxone, a Philadelphia federal judge has decided.
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September 03, 2024
3rd Circ.: Biotech Must Pay Royalties Despite Expired Patents
A cancer drug biotechnology company must pay royalties to a research firm despite the expiration of the applicable patents, a Third Circuit panel ruled in a precedential decision Tuesday, concluding that the biotech's royalty obligation is calculated differently than the one in a U.S. Supreme Court case it cited.
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September 03, 2024
Healthcare Deals This Week: Bayer, Novartis, Circle Pharma
The precision oncology industry saw an increase in investment this past week as Noetik secured $40 million in financing for AI-driven cancer therapeutics development. Law360 breaks down this and other deals from the past week.
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September 03, 2024
Gov't Backs 9th Circ. Bid To Revive Invisalign Monopoly Case
The U.S. Department of Justice has told the Ninth Circuit that a lower court applied the wrong standard when tossing a pair of class actions accusing the maker of Invisalign of monopolizing markets for clear dental aligners and teeth scanners.
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September 03, 2024
Aspire Biopharma Inks SPAC Deal At $316M Valuation
Aspire Biopharma Inc., advised by Sichenzia Ross Ference Carmel LLP, on Tuesday announced that it will go public through a merger with special purpose acquisition company PowerUp Acquisition Corp., led by Dykema Gossett PLLC, in a transaction that values the business at a pre-money equity value of roughly $316 million.
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September 03, 2024
Ex-Tesla Atty Joins Cell Therapy Business As General Counsel
Cell therapy manufacturer Cellares has hired as its general counsel and corporate secretary an experienced in-house attorney who formerly worked for Lucid Motors and Tesla.
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September 03, 2024
Semnur Pharmaceuticals To Go Public Via $2.5B SPAC Merger
Paul Hastings LLP-advised Semnur Pharmaceuticals Inc. on Tuesday unveiled plans to go public via a merger with Winston & Strawn LLP-led blank check company Denali Capital Acquisition Corp. in a deal that gives the pharmaceutical company a pre-transaction equity value of $2.5 billion.
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August 30, 2024
Healthcare REIT Pays $62M For Two Skilled Nursing Facilities
CareTrust REIT Inc. bought two skilled nursing facilities in two separate deals that cost $62.1 million in total in a "cash on hand" deal, the healthcare-focused real estate investment trust announced.
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August 30, 2024
Cancer Detection Co. Valued At $375M In SPAC Merger
Blank check company Mountain Crest Acquisition Corp. V, advised by Loeb & Loeb LLP, announced that it has agreed to merge with and take public Korean cancer diagnosis technology company CubeBio Co. Ltd., led by Nelson Mullins Riley & Scarborough LLP, in a deal valued at $375 million.
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August 29, 2024
Jazz Hits Teva With Patent Suit Over Narcolepsy Drug
Teva Pharmaceuticals Inc. is infringing a patent for the narcolepsy drug Xywav, Jazz Pharmaceuticals Inc. said in a complaint filed in New Jersey federal court.
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August 28, 2024
Merck Must Face Class Claims In Vaccine Antitrust Suit
Merck cannot strike class claims in antitrust litigation over its rotavirus vaccine, a Pennsylvania federal judge ruled Wednesday, while also allowing the city of Baltimore to eliminate redundancies in its complaint.
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August 28, 2024
NJ Health System Repeats Call For Proskauer DQ
New Jersey health network CarePoint Health Management Associates LLC has redoubled its call for a New Jersey federal judge to disqualify Proskauer Rose LLP from representing competitor RWJBarnabas Health Inc. amid antitrust claims brought by CarePoint, arguing CarePoint's prior representation by Proskauer is substantially related to the case.
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August 28, 2024
Healthcare REIT Adds $118M Of Properties To KKR Venture
Healthcare Realty Trust Inc. provided $118 million in properties to its joint venture with KKR & Co. Inc., netting the real estate investment trust about $94 million of proceeds and increasing the value of the partnership to nearly $500 million.
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August 27, 2024
Healthcare Deals This Week: UCB, AstraZeneca, McKesson
The healthcare industry saw a handful of notable deals this past week, capping off a busy summer season.
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August 27, 2024
New Cigna CLO Vows To Help Co. Navigate 'Dynamic' Industry
Cigna has promoted one of its in-house lawyers, who has spent her in-house and private practice career in the healthcare space, to chief legal officer, according to a LinkedIn post.
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August 27, 2024
The Firms Behind Deals Shaping The Future Of Cancer Drugs
Big Pharma has poured billions of dollars into acquiring and developing the next generation of cancer drugs. Major law firms like Cooley, Freshfields and Skadden are working to put together blockbuster deals expected to shape the future of oncology treatments.
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August 27, 2024
Winston & Strawn Hires Morgan Lewis Healthcare Partner
An attorney specializing in healthcare law recently moved to Winston & Strawn LLP's Houston office after practicing for nearly five years at Morgan Lewis & Bockius LLP.
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August 27, 2024
Sheppard Mullin Adds Another McDermott Healthcare Pro
Sheppard Mullin Richter & Hampton LLP has hired a 12-year McDermott Will & Emery LLP healthcare transactions partner in Chicago, making him the latest partner focused on that industry to join the Sheppard Mullin team in the last year.
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August 27, 2024
Freshfields Steers UCB's $680M Sale Of Chinese Portfolio
UCB has said it will sell a portfolio of established products in China to investment firms in Singapore and Abu Dhabi for $680 million so that the Belgian biopharmaceutical company can focus on developing new medicines for the pharma market in the Far East country.
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August 26, 2024
McKesson Inks $2.49B Deal For Cancer-Focused Biz
Healthcare services provider McKesson Corp. on Monday announced plans to acquire a majority stake in Paul Weiss Rifkind Wharton & Garrison LLP-advised Florida Cancer Specialists & Research Institute's Community Oncology Revitalization Enterprise Ventures for $2.49 billion.
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August 23, 2024
Clinic Biz Can Tap Additional Ch. 11 Lifeline, Judge Says
A Delaware bankruptcy judge agreed on Friday to allow clinic operator Pioneer Health to take on more debtor-in-possession financing as it works toward an asset sale, finding the latest arrangement to be in the debtor's best interest.
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August 23, 2024
Covington-Led Getinge Pays $477M For Organ Transplant Biz
Swedish healthcare company Getinge, advised by Covington & Burling LLP, has unveiled plans to buy Sheppard Mullin Richter & Hampton LLP-led Paragonix, a provider of organ transport products and services in the U.S., in a $477 million deal.
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August 21, 2024
3rd Circ. Affirms Health Chain Win In Pa. Hospital Sale Dispute
The seller of a Pennsylvania hospital was in compliance with its state licensing requirements when the facility was sold, and thus, did not violate the terms of the sale agreement when the buyer needed to update its fire-safety plans to stay licensed, the Third Circuit has affirmed.
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August 21, 2024
NJ Health System Calls Proskauer DQ Bid A 'Litigation Tactic'
RWJBarnabas Health urged a New Jersey federal judge to reject its competitor's attempt to disqualify Proskauer Rose LLP from representing the healthcare system in an antitrust suit, telling the court the "litigation tactic" is merely the plaintiff's effort to replace opposing counsel because its case is going badly.
Expert Analysis
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Mallory Gives Plaintiffs A Better Shot At Justice
Critics of the U.S. Supreme Court's recent decision in Mallory v. Norfolk Southern claim it opens the door to litigation tourism, but the ruling simply gives plaintiffs more options — enabling them to seek justice against major corporations in the best possible court, say Rayna Kessler and Ethan Seidenberg at Robins Kaplan.
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Courts Can Overturn Deficient State Regulations, Too
While suits challenging federal regulations have become commonplace, such cases against state agencies are virtually nonexistent, but many states have provisions that allow litigants to bring suit for regulations with inadequate cost-benefit analyses, says Reeve Bull at the Virginia Office of Regulatory Management.
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Tales From The Trenches Of Remote Depositions
As practitioners continue to conduct depositions remotely in the post-pandemic world, these virtual environments are rife with opportunities for improper behavior such as witness coaching, scripted testimony and a general lack of civility — but there are methods to prevent and combat these behaviors, say Jennifer Gibbs and Bennett Moss at Zelle.
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What's New In The DOJ-FTC Proposed Merger Guidelines
While this week's merger guidelines proposal from the Federal Trade Commission and U.S. Department of Justice initially appears to reflect well-established principles of antitrust law, a closer examination reveals a stark departure from the last 40 years of antitrust enforcement, say attorneys at Skadden.
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Tide May Be Turning On Texas Two-Step Bankruptcy Strategy
Recent developments in several high-profile bankruptcy cases suggest that the use of the Texas Two-Step to shield solvent companies from tort claims may be falling out of favor, but until the U.S. Supreme Court hears one of these cases the strategy will remain divisive and the subject of increased scrutiny, say attorneys at Rivkin Radler.
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Ways To Balance ESG Initiatives And Antitrust Risks
Since ESG policies often concern systemic issues that require collective action for meaningful results, there are potential antitrust issues that require safeguards to help mitigate risk, say attorneys at Faegre Drinker.
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Level Up Lawyers' Business Development With Gamification
With employee engagement at a 10-year low in the U.S., there are several gamification techniques marketing and business development teams at law firms can use to make generating new clients and matters more appealing to lawyers, says Heather McCullough at Society 54.
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Mallory Ruling Leaves Personal Jurisdiction Deeply Unsettled
In Mallory v. Norfolk Southern Railway, a closely divided U.S. Supreme Court recently rolled back key aspects of its 2017 opinion in Daimler AG v. Bauman that limited personal jurisdiction, leaving as many questions for businesses as it answers, say John Cerreta and James Rotondo at Day Pitney.
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Recent Provider Relief Fund Audits Are Just The Beginning
Though the Health Resources and Services Administration's initial audits of the Provider Relief Fund program appear to be limited in scope, fund recipients should prepare for additional oversight, scrutiny and disallowances as the HRSA ramps up its efforts, say Brian Lee and Christopher Frisina at Alston & Bird.
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5 Ways Firms Can Rethink Office Design In A Hybrid World
As workplaces across the country adapt to flexible work, law firms must prioritize individuality, amenities and technology in office design, says Kristin Cerutti at Nelson Worldwide.
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Bar Score Is Best Hiring Metric Post-Affirmative Action
After the U.S. Supreme Court's ruling striking down affirmative action admissions policies, law firms looking to foster diversity in hiring should view an applicant's Multistate Bar Examination score as the best metric of legal ability — over law school name or GPA, says attorney Alice Griffin.
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Joint Ventures Given More Edge In Set-Aside Contract Awards
The recent Court of Federal Claims decision in SH Synergy prompted the General Services Administration to remold proposal evaluation schemes to favor mentor-protégé joint ventures, a business structure that has taken over the world of set-aside governmentwide acquisition contracts, say Roger Abbott and Stephen Ramaley at Miles & Stockbridge.
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New Health Data Compliance Considerations For Pa. Lawyers
Given the regularity with which attorneys handle private health information, it is important for Pennsylvania firms to understand recent significant amendments to the state's data breach law, which address information not currently covered by federal law, says Mark Mattioli at Post & Schell.