Deals & Corporate Governance
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January 08, 2025
Wilson Sonsini, Cooley Lead $621M Take-Private Of Accolade
Private equity-backed healthcare company Transcarent, advised by Wilson Sonsini Goodrich & Rosati PC, and personalized healthcare company Accolade, led by Cooley LLP, on Wednesday announced plans to merge in a $621 million deal that will result in Accolade becoming a private company.
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January 07, 2025
Obesity Drug Maker Faces Investor Suit Over IPO Disclosures
Biopharmaceutical company BioAge Labs Inc. is facing a proposed class action alleging investors in its initial public offering were hurt by plummeting share prices after the company unexpectedly hit the brakes on a clinical trial for its lead product candidate.
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January 07, 2025
Healthcare Deals This Week: Novo Nordisk, Roche, DualityBio
The first week of 2025 started off slow for the healthcare industry, but began to pick up steam as the first Monday of the new year rolled around.
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January 07, 2025
McDermott Picks New Healthcare Leader, Rebrands Group
McDermott Will & Emery LLP is revamping its healthcare practice.
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January 06, 2025
Sidley, Wachtell Guide Inari Medical's $4.9B Sale To Stryker
Medical technology company Stryker Corp., represented by Sidley Austin LLP, announced Monday that it has inked an agreement to acquire device maker Inari Medical Inc., represented by Wachtell Lipton Rosen & Katz, in a deal worth about $4.9 billion.
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January 06, 2025
Biotech Trade Secrets Case Gets New Punitive Damages Trial
A California federal judge has ordered a new punitive damages trial on how much a former Skye Orthobiologics LLC employee owes in a case where he was found to have breached his fiduciary duties by leveraging Skye's proprietary information, after ruling last year there wasn't enough evidence to support an earlier $25 million award.
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January 06, 2025
Biotech Co. Revance Faces Suit After Tender Offer Weakens
Biotechnology company Revance Therapeutics Inc. and two of its executives face a proposed investor class action alleging the company hurt investors after the value of a take-private tender offer was negotiated down following allegations that Revance had breached a distribution deal with another company.
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January 06, 2025
5th Circ. Iffy On Humana, Blue Cross Allergy Meds Denials
A Fifth Circuit panel seemed poised Monday to side with an allergy services provider accusing insurance giants Blue Cross Blue Shield and Humana of colluding to deny claims and drive the company out of the market.
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January 02, 2025
Edwards Brass Face Investor Suit Over Heart Valve Sales
The executives and directors of medical device maker Edwards Lifesciences have been hit with a shareholder derivative suit in California federal court alleging the company understated how industry trends and macroeconomic factors would impact the success of its mainstay device.
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January 02, 2025
Roche Strikes $80M Oncology Drug Deal With Chinese Biotech
A multimillion-dollar agreement kicked off biotech deals in the new year when Swiss pharma giant Roche and Chinese biotech Innovent Biologics announced Wednesday that they had entered into an exclusive licensing agreement focused on a new oncology drug.
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January 01, 2025
Healthcare and Life Science Deals Attys Expect In 2025
As the healthcare industry heads into 2025, deals attorneys are optimistic as they look to falling interest rates and a potentially more business-friendly administration set to enter the White House.
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December 20, 2024
TD Bank, Boeing And Medicare: Compliance Headlines In 2024
Corporate compliance lessons were never far from the headlines in 2024, as regulatory challenges and headaches facing industries ranging from healthcare to aerospace played front and center, including TD Bank's historic $3.1 billion money laundering settlement that federal prosecutors billed as one for the risk-management textbooks.
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December 20, 2024
Proskauer Beats DQ Bid In NJ Hospital Antitrust Fight
A New Jersey federal judge refused to disqualify Proskauer Rose LLP from defending healthcare network RWJBarnabas Health Inc. in an antitrust lawsuit brought by competitor CarePoint Health Management Associates LLC, saying the present case wasn't substantially related to work the law firm previously did for CarePoint.
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December 20, 2024
Independent Health Inks $98M Deal For Medicare Overcharges
Independent Health Association Inc. has agreed to pay up to $98 million to resolve a decade-old False Claims Act whistleblower suit alleging it knowingly submitted invalid diagnosis codes for Medicare Advantage Plan enrollees to boost payments that the insurer received from Medicare, the U.S. Department of Justice announced Friday.
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December 20, 2024
Top Government Contracts Of 2024: Year In Review
This year, the U.S. General Services Administration made dozens of awards for two massive, uncapped governmentwide deals, while the U.S. Department of Energy awarded more than $70 billion both for making nuclear weapons and cleaning up their legacy. Here, Law360 looks at seven of the biggest government contracts awarded in 2024.
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December 19, 2024
Top Gov't Contracts Cases Of 2024
Courts and the U.S. Government Accountability Office have made several high-profile, consequential decisions for government contractors this year, addressing the constitutionality of the False Claims Act's whistleblower provisions and the limits of the president's authority over federal procurement.
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December 18, 2024
Pharma Trial Consultant To Pay SEC $3M Over Insider Trading
An oncologist and clinical professor at the University of California, Irvine agreed to pay the U.S. Securities and Exchange Commission $3 million to resolve allegations he purchased shares in a Massachusetts biotech company based on insider information regarding a clinical trial he was overseeing, the SEC announced Wednesday.
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December 18, 2024
State AGs, Generic Cos. Fight Over Price-Fixing Trial Order
A contingent of state-level enforcers told a Connecticut federal court there is no need to reconsider prioritizing a sprawling generic drug price-fixing case that involves more than 100 medications over a narrower case the drugmakers are asking to have tried first.
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December 18, 2024
Yale Eyes Quick Win In $435M Conn. Hospital Purchase Suit
Yale New Haven Health Services Corp. has asked a Connecticut state court judge for permission to file a summary judgment motion in a feud with Prospect Medical Holdings Inc. over the sale of several hospitals in the state, saying Prospect's "stunning" failure to fund pensions and pay taxes resulted in property liens that breached the $435 million deal.
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December 18, 2024
SiteOne Gets $100M To Advance Non-Opioid Pain Treatments
SiteOne Therapeutics Inc., a biopharmaceutical company focusing on pain treatment, on Wednesday announced that it clinched a Series C funding round after securing $100 million from investors.
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December 17, 2024
Sandoz Cuts $275M Deal For More Price-Fixing Claims
Swiss drugmaker Sandoz said Tuesday it has reached a $275 million settlement to end claims from consumers, insurers and others in the sprawling multidistrict litigation over alleged price-fixing in the generic-drug industry.
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December 17, 2024
Bigger, Mature Deals May Define 2025 Healthcare Landscape
As the healthcare industry returns to normalcy after the peak of the pandemic, look for a repeat of some pre-2020 deal trends.
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December 16, 2024
Ginkgo Bioworks Investors Get Final OK Of $17.8M Settlement
Investors in biotech company Ginkgo Bioworks Holdings Inc. have gotten final approval for their $17.75 million deal to end proposed class action claims that the company and its leaders distorted Ginkgo's finances, mischaracterizing certain related party deals, to garner shareholder support for its merger with a special purpose acquisition company.
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December 16, 2024
Merger Enforcers End Year On Upswing
The Biden administration's antitrust enforcers have boasted that one side effect of their aggressive approach to merger enforcement has been helping stop problematic deals from being cut in the first place, but the agencies also scored key court rulings blocking transactions in their final year that could have a more enduring effect.
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December 16, 2024
Becton Dickinson To Pay SEC $175M Over Pump Claims
Becton Dickinson & Co. has agreed to pay $175 million to settle the U.S. Securities and Exchange Commission's allegations that the medical device manufacturer misled investors about the risks of selling its Alaris infusion pump and overstated its income, the agency announced Monday.
Expert Analysis
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PE-Healthcare Mergers Should Prepare For Challenges
State and federal regulators are increasingly imposing new requirements on healthcare transactions involving private equity partners, with mergers that would have drawn little scrutiny a few years ago now requiring a multijurisdictional risk analysis during the deal formation process, say attorneys at Stinson.
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Behind Indiana's Broad New Healthcare Transactions Law
The high materiality threshold in Indiana's recently passed healthcare transaction law, coupled with the inclusion of private equity in its definition of healthcare entities, makes it one of the broadest state review regulations to date, say attorneys at DLA Piper.
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Highlights From The 2024 ABA Antitrust Spring Meeting
U.S. merger enforcement and cartels figured heavily in this year's American Bar Association spring antitrust meeting, where one key takeaway included news that the Federal Trade Commission's anticipated changes to the Hart-Scott-Rodino form may be less dramatic than many originally feared, say attorneys at Freshfields.
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The Merger Cases That Will Matter At ABA Antitrust Meeting
While the American Bar Association's Antitrust Spring Meeting this week will cover all types of competition law issues in the U.S. and abroad, expect the federal agencies' recent track record in merger enforcement to be a key area of focus on the official panels and in cocktail party chatter, say attorneys at Freshfields.
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Planning For Healthcare-Private Equity Antitrust Enforcement
U.S. antitrust agency developments could mean potential enforcement actions on healthcare-related acquisitions by private equity funds are on the way, and entities operating in this space should follow a series of practice tips, including early assessment of antitrust risks on both the state and federal level, say Ryan Quillian and John Kendrick at Covington.
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Why Oncology Deal Making Continues To Fuel Biotech M&A
The biotech sector's potential for advancements in cancer care continues to attract deal-maker interest, and the keys to successful mergers and acquisitions include the ability to integrate innovative therapies, leverage technological advancements and respond to the dynamic needs of patients, say Bryan Luchs and Mike Weir at White & Case.
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Tips For Healthcare M&A Amid Heightened Antitrust Scrutiny
As the Biden administration maintains its aggressive approach to antitrust merger enforcement, prudent healthcare M&A counsel will consider practical advice when contemplating their next transaction, including carefully selecting a merger partner and preparing for a potentially long waiting period prior to closing, say attorneys at Davis Wright.
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Spartan Arbitration Tactics Against Well-Funded Opponents
Like the ancient Spartans who held off a numerically superior Persian army at the Battle of Thermopylae, trial attorneys and clients faced with arbitration against an opponent with a bigger war chest can take a strategic approach to create a pass to victory, say Kostas Katsiris and Benjamin Argyle at Venable.
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5 Trends To Watch As Value-Based Healthcare Gains Steam
Value-based care has grown and evolved as healthcare providers, payors and policymakers seek to improve patient results while containing costs, and this shift in the industry is expected to accelerate in the near future, say attorneys at Holland & Knight.
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What's At Play In Rising Lanham Act Cases At The ITC
Amid an uptick in Lanham Act claims involving false advertising related to medical devices at the U.S. International Trade Commission, Brian Busey and Maryrose McLaughlin at MoFo discuss recent ITC complaints from Eli Lilly and R.J. Reynolds, Lanham Act claim limits under the Federal Food, Drug, and Cosmetic Act, and the issues practitioners face in this realm.
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What Workplace Violence Law Means For Texas Healthcare
While no federal laws address violence against healthcare workers, Texas has recently enacted statutory protections that take effect later this year — so facilities in the state should understand their new obligations under the law, and employers in other states would be wise to take notice as well, say attorneys at Bradley Arant.
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5 Models For Structuring Health Provider-Payor Partnerships
With recent data showing that the U.S. continues to spend more and get less for healthcare services compared to other industrialized nations, providers and payors should consider a variety of partnership structures that can help achieve the so-called triple aim of improving the health of individuals and populations while reducing per capita costs, says John Howard at Thompson Coburn.
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What FTC's 'Killer Acquisition' Theory Means For Pharma Cos.
The Federal Trade Commission's recent lawsuit to block Sanofi's acquisition of a pharmaceutical treatment developed by Maze Therapeutics builds on previous enforcement actions and could indicate the agency's growing willingness to use its so-called killer acquisition theory against perceived attempts to eliminate nascent competition, say attorneys at Morgan Lewis.