Deals & Corporate Governance

  • January 23, 2024

    2nd Circ. Backs Shkreli Lifetime Pharma Industry Ban

    The Second Circuit on Tuesday backed a ruling banning former pharmaceutical executive and convicted securities fraudster Martin Shkreli from the drug industry for life, saying a repeat of his past misconduct would be "life-threatening."

  • 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.

  • 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.

  • 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.

  • 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.

  • 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.

  • 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.

  • 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.

  • 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.

  • 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.

  • 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.

  • 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.

  • 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.

  • 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.

  • 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.

  • 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.

  • 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.

  • 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.

  • 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.

  • 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.

  • 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.

  • 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.

  • 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.

  • 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.

  • 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.

Expert Analysis

  • Do Videoconferences Establish Jurisdiction With Defendants?

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    What it means to have minimum contacts in a foreign jurisdiction is changing as people become more accustomed to meeting via video, and defendants’ participation in videoconferencing may be used as a sword or a shield in courts’ personal jurisdiction analysis, says Patrick Hickey at Moye White.

  • Takeaways From DOJ's Novel Insider Trading Indictment

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    The U.S. Department of Justice's recently announced insider trading charges in U.S. v. Peizer mark the first indictment based solely on an executive’s use of a Rule 10b5-1 trading plan, reflecting prosecutors' aggressive approach and providing insights for corporate executives, say attorneys at Cleary.

  • Humanism Should Replace Formalism In The Courts

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    The worrying tendency for judges to say "it's just the law talking, not me" in American decision writing has coincided with an historic decline in respect for the courts, but this trend can be reversed if courts develop understandable legal standards and justify them in human terms, says Connecticut Superior Court Judge Thomas Moukawsher.

  • Expect Merger Enforcement To Roll Full Steam Ahead

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    U.S. Department of Justice and Federal Trade Commission officials at the American Bar Association's 2023 Antitrust Spring Meeting laid out their agenda to reinvigorate and modernize antitrust merger enforcement, projecting confidence and optimism despite recent high-profile setbacks in court, say attorneys at Perkins Coie.

  • Don't Let Client Demands Erode Law Firm Autonomy

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    As clients increasingly impose requirements for attorney hiring and retention related to diversity and secondment, law firms must remember their ethical duties, as well as broader issues of lawyer development, culture and firm integrity, to maintain their independence while meaningfully responding to social changes, says Deborah Winokur at Cozen O'Connor.

  • Distressed Cannabis Cos. Have A Few Options, With Caveats

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    As the cannabis industry falls on tough times and a potential recession looms, attorneys should understand the limited restructuring options available to distressed cannabis businesses, absent key bankruptcy protections — and the pitfalls these options may present, say Griffen Thorne and Ethan Minkin at Harris Bricken.

  • How CMS Proposal Would Change PE Deal Transparency

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    The Centers for Medicare and Medicaid Services recently proposed a new rule that would require the disclosure of additional ownership regarding Medicare and Medicaid nursing facilities, an approach that many states have started to take and reflects the Biden administration's scrutiny on private equity deals, say attorneys at Kirkland.

  • Workers, Labor Take Center Stage At ABA Antitrust Meeting

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    The American Bar Association’s antitrust spring meeting had a heavy emphasis on upstream markets affecting employees and talent, and prosecutors sent a clear message that they view no-solicitation, no-poach and no-hire agreements as criminal violations, even in the face of several jury trial setbacks, say attorneys at Perkins Coie.

  • Federal Judge's Amici Invitation Is A Good Idea, With Caveats

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    An Arkansas federal judge’s recent order — inviting amicus briefs in every civil case before him — has merit, but its implementation may raise practical questions about the role of junior attorneys, economic considerations and other issues, says Lawrence Ebner at the Atlantic Legal Foundation.

  • Fox Ex-Producer Case Is A Lesson In Joint Representation

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    A former Fox News producer's allegations that the network's lawyers pressured her to give misleading testimony in Fox's defamation battle with Dominion Voting Systems should remind lawyers representing a nonparty witness that the rules of joint representation apply, says Jared Marx at HWG.

  • Cannabis Cos. Must Heed Growing Federal Investigatory Risks

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    As state-regulated cannabis markets expand rapidly, so too does government oversight, and industry participants must plan ahead to avoid potential liabilities related to workplace health and safety requirements, tax audits, securities regulations and foreign bribery laws, say Alicia Corona and Amy Rubenstein at Dentons.

  • Employee COVID Protocols After National Emergency Ends

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    Now that the Biden administration has announced its plan to officially end the COVID-19 national emergency and public health emergency in May, employers must carefully consider how to proceed with their mandatory vaccine policies and other responses to the pandemic, say Elisabeth Hall and Olubusola Olanrewaju at Miles & Stockbridge.

  • Recent Growth Factors Driving Life Sciences Transactions

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    In view of challenges posed by last year's economic downturn, life sciences companies have increasingly turned to collaboration and licensing arrangements, with a focus on deal activity in artificial intelligence, digital health and gene therapy, say attorneys at Ropes & Gray.