Deals & Corporate Governance
-
February 11, 2025
Research Org Faces Investor Suit Over Customer Cost-Cutting
Clinical research organization Icon PLC has been hit with a proposed shareholder class action in New York federal court, alleging it misled investors about a slowdown in demand the company experienced due to customers implementing drastic cost-reduction measures that involved research and development expenditures.
-
February 11, 2025
Fla. Judge OKs $7M Deal In Health Data Breach Class Action
A Florida federal judge Tuesday granted final approval of a $7 million class action settlement as part of multidistrict litigation over the theft of personal information from millions of U.S. citizens in a health data breach linked to a Russian ransomware group.
-
February 11, 2025
Novartis To Buy US Pharma Biz Anthos For Up To $3.1B
Novartis AG said Tuesday that it plans to buy Anthos Therapeutics Inc. for up to $3.1 billion, allowing the Swiss pharmaceutical heavyweight to return a drug that originated at the company back into its portfolio of cardiovascular therapies.
-
February 10, 2025
Pharma Co. Misled Investors On Depression Drug, Suit Says
Brain disease drugmaker Neumora Therapeutics Inc. has been hit with a proposed shareholder class action alleging that the company and its initial public offering underwriters failed to disclose prior to the $250 million IPO that Neumora's clinical trial for a depression treatment was very unlikely to yield promising results.
-
February 10, 2025
UnitedHealth Says Fed Suit Imperils Deal's Many Benefits
UnitedHealth Group and home health and hospice giant Amedisys Inc. responded to the U.S. Department of Justice's merger challenge Friday by telling a Maryland federal judge that the government is taking quotes out of context, focusing on "artificially narrow geographic markets" and misjudging market realities.
-
February 07, 2025
Taxation With Representation: Kirkland, Latham, Skadden
In this week's Taxation With Representation, Triumph Group goes private via Berkshire Partners and Warburg Pincus affiliates, alternative asset manager TPG buys Altus Power, Globus Medical buys Nevro Corp., and Honeywell separates its automation and aerospace technology businesses, resulting in the formation of three distinct companies.
-
February 06, 2025
Drug Cos. Urge Full Fed. Circ. To Hear Teva Orange Book Row
The branded pharmaceutical industry is lining up behind a legal effort from Israeli drugmaker Teva that wants the full Federal Circuit to hear a dispute over delisting patents from the U.S. Food and Drug Administration's Orange Book.
-
February 06, 2025
GSK's Zantac Woes Gave Investors Heartburn, Suit Says
The maker of heartburn and acid reflux relief tablet Zantac has been hit with a shareholder suit in Pennsylvania federal court alleging that the company suffered stock price losses after it was revealed that for nearly 40 years the company knew that Zantac contained high levels of a cancer-causing compound.
-
February 06, 2025
Globus Medical Buys Device-Maker Nevro In $250M Deal
Musculoskeletal solutions company Globus Medical, advised by Wyrick Robbins Yates & Ponton LLP, on Thursday announced plans to buy Latham & Watkins LLP-led medical device company Nevro Corp. in an all-cash deal with an equity value of roughly $250 million.
-
February 06, 2025
Arnall Golden Hires Home Care & Hospice CEO In DC
Arnall Golden Gregory LLP has hired the former head of the National Association for Home Care & Hospice, to join its Washington, D.C., office after nearly 40 years with the organization, the firm announced Tuesday.
-
February 05, 2025
Wachtell, Skadden Guide Becton's Bid To Sell Diagnostics Biz
Becton Dickinson and Co. has agreed to divest its biosciences and diagnostics unit in order to focus more resources on medical technology and maximize shareholder value, the company said on Wednesday.
-
February 05, 2025
Proskauer Fights Another DQ Bid In NJ Hospital Antitrust Suit
A New Jersey federal magistrate judge was right to allow Proskauer Rose LLP to continue as counsel for RWJBarnabas Health Inc. since the firm's prior advice to CarePoint Health on its use of COVID-19 relief funds is unrelated to the antitrust lawsuit currently playing out between the two companies, according to the firm.
-
February 05, 2025
Activist Nominates 4 Director Candidates To Kenvue Board
Activist investor Starboard Value LP on Wednesday unveiled its slate of four director candidates to be nominated to consumer products company Kenvue Inc.'s board of directors, saying that significant changes to the board are necessary to ensure the company is managed and overseen in a manner consistent with the best interests of its shareholders.
-
February 04, 2025
McKesson, Others Beat Indirect Drug Reseller Price-Fix Suit
A Pennsylvania federal judge permanently tossed antitrust claims from indirect generic-drug resellers who alleged distributors like McKesson Corp. and AmerisourceBergen colluded with manufacturers to fix prices of many medications, writing Monday the plaintiffs fail to show the existence of such an agreement between drugmakers and distributors.
-
February 04, 2025
Fed. Circ. Grapples With Extensions On Reissued Patents
The Federal Circuit is set to decide when a reissued patent actually expires after fielding arguments Tuesday morning from Merck and the generic-drug makers who are trying to break the pharmaceutical giant's hold on a blockbuster drug that counteracts the effects of anesthesia.
-
February 04, 2025
McKesson Paying $850M For Top Stake In Eye Health Co.
Irving, Texas, healthcare services company McKesson Corp. said Tuesday it had agreed to buy a controlling interest in PRISM Vision, an ophthalmology services provider, from private equity firm Quad-C for $850 million.
-
February 04, 2025
Biotechs Line Up Backups Amid Uncertainty
In an uncertain environment, biotech companies are pursuing multiple opportunities at the same time, leaning into an old but increasingly popular strategy that gives them leverage and options when striking deals.
-
February 04, 2025
Healthcare REIT Closes $159M Life Sciences Campus Sale
Diversified Healthcare Trust sold off a three-building life sciences campus in San Diego for $159 million as the healthcare-focused REIT looks to pay down debt.
-
February 03, 2025
Calif. OTA Denies Sales Tax Refund For Drug System Parts
A biopharmaceutical company is not eligible for refunds of sales and use taxes for components of a diabetes drug delivery system that it developed but was never federally approved, the California Office of Tax Appeals said in a ruling released Monday.
-
January 31, 2025
Pharmacy Escapes Novo Nordisk's Suit Over Ozempic
A Florida federal judge has tossed a lawsuit by Novo Nordisk trying to stop a compounding pharmacy from dispensing drugs with the same active ingredient as Nordisk weight loss and diabetes drugs, finding that the drugmaker's claims are preempted by federal law.
-
January 31, 2025
Supreme Court Eyes Its 'Next Frontier' In FCC Delegation Case
A case about broadband subsidies will give the U.S. Supreme Court the chance to revive a long-dormant separation of powers principle that attorneys say could upend regulations in numerous industries and trigger a power shift that would make last term's shake-up of federal agency authority pale in comparison. And a majority of the court already appears to support its resurrection.
-
January 31, 2025
Owners Appeal Docs Order In Yale's $435M Hospital Sale Fight
Three companies that own property occupied by bankrupt Prospect Medical Holdings Inc. hospitals in Connecticut have appealed a state trial court judge's order to provide documents to Yale New Haven Health in a fight over a $435 million purchase agreement.
-
January 31, 2025
Investors Say Walgreens Misled Over Prescription Misuse
A putative class of Walgreens shareholders has sued the retail giant in Illinois federal court, claiming it made false statements about its regulatory compliance and that stock prices fell in the wake of the federal government's allegations that Walgreens knowingly filled millions of invalid prescriptions for opioids and other controlled substances.
-
January 31, 2025
Taxation With Representation: Cravath, Gibson Dunn, Milbank
In this week's Taxation with Representation, Eversource Energy sells Aquarion Water Co., Diversified Energy Partners acquires oil and gas company Maverick, Lantheus Holdings buys Evergreen Theragnostics, and NASCAR champion Jimmie Johnson becomes the majority owner in the Legacy Motor Club racing team.
-
January 30, 2025
MoFo Guides Welltower's $900M Senior Living REIT Deal
Healthcare real estate investment trust Welltower Inc. plans to acquire NorthStar Healthcare Income Inc., a senior living facility REIT, in a $900 million deal led by Morrison Foerster LLP.
Expert Analysis
-
How Merger Review Overhaul Could Affect Health Industry
For those in the health care industry considering growth and expansion strategies, the antitrust agencies' recent proposals for new Hart-Scott-Rodino rules and more complex merger guidelines will increase deal timelines, the merging parties' burden, and overall uncertainty and potential antitrust risk as to the outcome, say attorneys at Husch Blackwell.
-
More States Should Join Effort To Close Legal Services Gap
Colorado is the most recent state to allow other types of legal providers, not just attorneys, to offer specific services in certain circumstances — and more states should rethink the century-old assumptions that shape our current regulatory rules, say Natalie Anne Knowlton and Janet Drobinske at the University of Denver.
-
Identifying Trends And Tips In Litigation Financing Disclosure
Growing interest and controversy in litigation financing raise several salient concerns, but exploring recent compelled disclosure trends from courts around the country can help practitioners further their clients' interests, say Sean Callagy and Samuel Sokolsky at Arnold & Porter.
-
Bid Protest Spotlight: Personnel Loss, Conflicts, Timeliness
In this month's bid protest roundup, Locke Bell at MoFo highlights recent decisions from the U.S. Court of Federal Claims and the U.S. Government Accountability Office, addressing an offeror's loss of key personnel, organizational conflicts of interest arising out of reliance on former government employees in preparing a bid, and protest timeliness when no debriefing is required.
-
Congress Needs Better Health Care Fraud Data From DOD
The U.S. Department of Defense does not collect enough data to prevent health care and service contractor fraud and waste, so Congress should enact benchmarks that the DOD must meet when gathering and reporting data, enabling lawmakers to make better-informed decisions about defense appropriations, says Jessica Lehman at Verizon.
-
The Pop Culture Docket: Judge Elrod On 'Jury Duty'
Though the mockumentary series “Jury Duty” features purposely outrageous characters, it offers a solemn lesson about the simple but brilliant design of the right to trial by jury, with an unwitting protagonist who even John Adams may have welcomed as an impartial foreperson, says Fifth Circuit Judge Jennifer Elrod.
-
4 Business-Building Strategies For Introvert Attorneys
Excerpt from Practical Guidance
Introverted lawyers can build client bases to rival their extroverted peers’ by adapting time-tested strategies for business development that can work for any personality — such as claiming a niche, networking for maximum impact, drawing on existing contacts and more, says Ronald Levine at Herrick Feinstein.
-
3 Ways Justices' Disclosure Defenses Miss The Ethical Point
The rule-bound interpretation of financial disclosures preferred by U.S. Supreme Court Justices Samuel Alito and Clarence Thomas — demonstrated in their respective statements defending their failure to disclose gifts from billionaires — show that they do not understand the ethical aspects of the public's concern, says Jim Moliterno at the Washington and Lee University School of Law.
-
Caregiver Flexibility Is Crucial For Atty Engagement, Retention
As the battle for top talent continues post-pandemic, many firms are attempting to attract employees with progressive hybrid working environments — and supporting caregivers before, during and after an extended leave is a critically important way to retain top talent, says Manar Morales at The Diversity & Flexibility Alliance.
-
No End In Sight For Pandemic Relief Fraud Enforcement
Congress' recent decision to extend the statute of limitations to 10 years for fraud related to pandemic relief means the era of enforcement actions brought under the False Claims Act and the Financial Institutions Reform, Recovery and Enforcement Act has only just begun, say attorneys at Crowell & Moring.
-
Hot OSHA Summer: Regulatory Activity In Full Swing
Recent actions by the Occupational Safety and Health Administration — including changes to its injury and illness reporting rule, its proposal to allow nonemployee union reps to accompany OSHA inspectors, and a hazard alert on extreme heat — show that the agency's regulatory and enforcement regime remains vigorous, says Heather MacDougall at Morgan Lewis.
-
Nursing Homes Must Prepare For Ownership Scrutiny
Due to the Centers for Medicare & Medicaid Services' designation of nursing home ownership changes as a high risk category, and increased transparency and notice obligations for changes in skilled nursing facility ownership set to take effect in Pennsylvania in October, owners should anticipate a heightened level of review and delays, say Mark Mattioli and Paula Sanders at Post & Schell.
-
In-Office Engagement Is Essential To Associate Development
As law firms develop return-to-office policies that allow hybrid work arrangements, they should incorporate the specific types of in-person engagement likely to help associates develop attributes common among successful firm leaders, says Liisa Thomas at Sheppard Mullin.