Deals & Corporate Governance
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January 23, 2024
Weil Helps Sanofi Buy Rare Diseases Co. For Up To $2.2B
French healthcare giant Sanofi SA said Tuesday that it will buy a U.S. company that creates therapies for so-called orphan diseases for approximately $2.2 billion in cash as it seeks to expand its rare diseases products.
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January 22, 2024
Claims Review Nurses Say Work Should've Garnered OT
Nurses who review appeals of denied medical procedure authorizations for healthcare providers are misclassified as overtime-exempt, a nurse told an Ohio federal court Monday in a proposed collective action.
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January 22, 2024
Mallinckrodt Trust Can Pursue Covidien Clawback Claims
A litigation trust formed when Mallinckrodt PLC left Chapter 11 bankruptcy can continue pursuing some clawback claims against Covidien Unlimited Co. alleging Covidien committed actual fraud when it spun Mallinckrodt off in 2013, a Delaware bankruptcy judge ruled.
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January 22, 2024
FTC Fights Bids To Toss Texas Anesthesia Roll-Up Case
The Federal Trade Commission urged a Texas federal court not to toss the agency's antitrust case against Welsh Carson Anderson & Stowe and U.S. Anesthesia Partners, saying the private equity firm orchestrated a "roll up" strategy to create a dominant anesthesiology practice.
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January 22, 2024
Cancer-Focused Arrivent Biopharma Eyes $150M IPO
Lung cancer-focused Arrivent Biopharma Inc. set a price range for its planned initial public offering Monday, saying it plans to offer 8.3 million shares at a price range of $17 to $19, meaning it could raise an estimated $150 million through its IPO.
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January 22, 2024
Skin Care Drug Co. Timber Gets OK For Ch. 11 Sale To Lender
A Delaware bankruptcy judge on Monday approved dermatology drug developer Timber Pharmaceuticals' plan for a Chapter 11 sale of its assets, with the debtor telling the court it intended to close the deal with a post-petition lender by the end of the day.
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January 22, 2024
Sandoz To Acquire Retinal Disease Biosimilar For $170M
Sandoz Group AG said on Monday that it will buy a therapy for retinal diseases from U.S. biopharmaceutical company Coherus BioSciences Inc. for $170 million in cash, as the Swiss-German generic drugs business seeks to strengthen its ophthalmology portfolio.
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January 19, 2024
Law360 Names Firms Of The Year
Eight law firms have earned spots as Law360's Firms of the Year, with 55 Practice Group of the Year awards among them, steering some of the largest deals of 2023 and securing high-profile litigation wins, including at the U.S. Supreme Court.
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January 19, 2024
Law360 Names Practice Groups Of The Year
Law360 would like to congratulate the winners of its Practice Groups of the Year awards for 2023, which honor the attorney teams behind litigation wins and major deals that resonated throughout the legal industry this past year.
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January 19, 2024
UPMC Accused Of 'Draconian' Antitrust Plot To Trap Workers
The University of Pittsburgh Medical Center was hit with a proposed class action Thursday accusing it of an "an overarching anti-competitive scheme" involving a "draconian system" to trap workers in jobs with suppressed pay and heightened workloads in a bid to maintain its dominance in the region.
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January 19, 2024
UpHealth's 'Full Pay' Ch. 11 Plan On Horizon, Committee Says
Bankrupt medical tech company UpHealth is in talks with its official committee of unsecured creditors to submit a Chapter 11 plan by the end of April that would pay unsecured debts in full, the committee told a Delaware bankruptcy court in a statement supporting UpHealth's request to extend its exclusive plan filing window.
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January 19, 2024
JP Morgan, Others Must Face Sr. Care Investors' Claims
Claims that a group of securities underwriters were negligent in a senior health care company's initial public offering have been kept alive by a Colorado federal judge.
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January 18, 2024
CG Oncology Aims To Raise Up To $212M As It Sets IPO Terms
Bladder-cancer therapy company CG Oncology set terms for its planned initial public offering Thursday, saying it intends to offer 11.8 million shares for between $16 and $18 per share, meaning it could raise up to around $212 million if priced at the high point.
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January 18, 2024
BridgeBio Pharma Secures $1.25B For New Drug Launch
Public biopharmaceutical company BridgeBio Pharma announced Thursday that it has raised up to $1.25 billion in capital from Blue Owl Capital and the Canada Pension Plan Investment Board to accelerate the launch of its new heart disease medicine acoramidis.
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January 17, 2024
Caremark Wants Tribe's Prescription Claim Suit Arbitrated
Caremark LLC has asked an Arizon federal court to compel arbitration of a lawsuit the Muscogee (Creek) Nation and its health department filed claiming the pharmacy benefit manager failed to pay claims for prescription drugs.
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January 17, 2024
Boston's Ratio Therapeutics Raises $50M Series B For R&D
Pharmaceutical startup Ratio Therapeutics has raised a fresh round of funding, the company announced Wednesday, closing on a $50 million Series B round that will be used to expand its research and development platforms and advance a treatment to clinical trials.
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January 17, 2024
VC Firm General Catalyst To Buy Nonprofit Summa Health
General Catalyst is acquiring Ohio-based health system Summa Health, the venture capital firm announced Wednesday, in a move that will convert the nonprofit hospital system into a for-profit entity.
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January 17, 2024
Health Co. Says Ex-CEO Sought 'Loyalty Oaths,' Revenge
Summit Orthopedic Home Care has filed a federal suit in Ohio accusing its ex-CEO and his "cronies" of using oppressive behavior to gain control over operations and then using internal knowledge of Summit's relationships to benefit his new home healthcare business.
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January 17, 2024
Brown Rudnick Launches Life Sciences Consulting Division
A pair of biotech veterans joined Brown Rudnick LLP in October to build a new consulting office called BR BioAdvisory Services, the firm announced Wednesday.
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January 17, 2024
PE-Backed Healthcare Provider BrightSpring Eyes $880M IPO
Private equity-backed healthcare platform BrightSpring Health Services Inc. on Wednesday unveiled a price range for an estimated $880 million initial public offering, represented by Simpson Thacher & Bartlett LLP and underwriters counsel Latham & Watkins LLP.
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January 16, 2024
GC Named Head Of Nassau U Medical Center In Restructuring
The board that oversees the 530-bed tertiary care teaching hospital Nassau University Medical Center has named its general counsel as interim president and CEO.
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January 16, 2024
Biotech Startup Alto Neuroscience Files To Go Public
Psychiatric biotech company Alto Neuroscience is preparing to go public, according to a preliminary prospectus the company filed Friday.
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January 16, 2024
Therapy Co. Says Ex-Directors 'Raided' Staff And Patients
Two psychotherapists who resigned from their roles as directors of a Pennsylvania-based mental health practice have been hit with a suit alleging they "brazenly solicited and raided" workers from the practice to launch their own therapy business.
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January 16, 2024
Union Funds Drop Suit Against CIA Janitorial Contractors
Two union benefit funds have dropped their federal lawsuit against a pair of companies that staff janitorial workers and security guards at the Central Intelligence Agency's headquarters, agreeing in a stipulation of dismissal docketed Tuesday to stop pursuing claims that the companies withheld financial documents from fund-retained auditors.
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January 16, 2024
Crowell Adds Moses Singer Health Trio In New NYC Office
Crowell & Moring LLP announced Tuesday that it has hired a team from Moses & Singer LLP with rare expertise in regulatory and compliance issues related to clinical trials for biotech and health tech companies.
Expert Analysis
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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.
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Ghosting In BigLaw: How To Come Back From Lack Of Feedback
Junior associates can feel powerless when senior colleagues cut off contact instead of providing useful feedback, but young attorneys can get back on track by focusing on practical professional development and reexamining their career priorities, says Rachel Patterson at Orrick.
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Conn. Certificate-Of-Need Law Will Bring Greater Efficiency
A new Connecticut law benefits health care organizations by establishing more concrete deadlines and requirements for the state's certificate-of-need law enforcer, and allows the enforcement agency to carry out its duties more efficiently, say attorneys at Robinson & Cole.
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Steps To Success For Senior Associates
Excerpt from Practical Guidance
Adriana Paris at Rissman Barrett discusses the increased responsibilities and opportunities that becoming a senior associate brings and what attorneys in this role should prioritize to flourish in this stressful but rewarding next level in their careers.
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Legal Profession Must Do More For Lawyers With Disabilities
At the start of Disability Pride month, Rosalyn Richter at Arnold & Porter looks at why lawyers with disabilities are significantly underrepresented in private practice, asserting that law firms and other employers must do more to conquer the implicit bias that deters attorneys from seeking accommodations.