Javelin Says Hospira Breached $145M Merger Deal

Law360, New York (June 3, 2010, 3:51 PM EDT) -- Javelin Pharmaceuticals Inc. is seeking to force Hospira Inc. to complete its proposed $145 million acquisition of the painkiller company and make good on its alleged promise to furnish Javelin with a $2 million loan.

Cambridge, Mass.-based Javelin filed a lawsuit against Hospira and Discus Acquisition Corp. — a Hospira subsidiary formed to acquire Javelin — in the Delaware Court of Chancery on Wednesday, accusing Hospira of breaching an April 17 merger agreement.

In April, Hospira and Javelin announced they had entered into a merger agreement...
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