3M Ducks Contract Suit Over $854M Pharma Unit Sale

Law360, Los Angeles (September 4, 2013, 5:04 PM ET) -- A New York federal judge on Monday ruled that 3M Co. hadn't violated an $854 million deal selling its European pharmaceutical business to Meda AB when it failed to disclose that its top-selling drug was due for a price reduction, finding Meda hadn't adequately performed due diligence.

Meda had argued that 3M violated several warranties in the acquisition agreement by failing to disclose during negotiations that its top-selling anti-arrhythmic drug, Flecaine, was subject to a government-mandated price reduction in France. But U.S. District Judge Alison J....
To view the full article, register now.




Case Information

Case Title

Meda AB v. 3M Company et al

Case Number



New York Southern

Nature of Suit

Contract: Other


Alison J. Nathan

Date Filed

January 20, 2011

Law Firms