Deals & Corporate Governance
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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January 29, 2025
KKR Plugs $250M Into Healthcare Biz Henry Schein
Healthcare solutions provider Henry Schein Inc., advised by Cleary Gottlieb Steen & Hamilton LLP, on Wednesday announced that it received a $250 million investment from Kirkland & Ellis LLP-led private equity giant KKR, resulting in the private equity shop becoming the company's largest non-index fund shareholder.
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January 28, 2025
GSK Urges Del. Judge To Enhance $235M Skinny Label Win
GlaxoSmithKline LLC is urging a Delaware federal judge to enhance the $235 million damages award a jury issued against Teva Pharmaceuticals USA Inc. in 2017, now that the dispute over skinny label infringement has returned to district court.
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January 28, 2025
Pharma Co. Gets Final Shot To Ax NC Contract Breach Suit
A pharmaceutical company can make another attempt to escape a software developer's suit alleging he was duped into selling his technology to the company, the North Carolina Business Court has said, months after the state's top court revived the software maker's breach of contract claims.
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January 28, 2025
Bain Capital Seeks Surgery Partners Buyout At $3.3B Value
Tennessee-based short-stay surgical facility operator Surgery Partners Inc. disclosed Tuesday that its board received a nonbinding proposal the prior day from Bain Capital Private Equity LP that values the company at close to $3.3 billion.
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January 28, 2025
Creditors Can Join Nostrum Sale Talks, Ch. 11 Judge Rules
A bankruptcy judge on Tuesday approved a bid from the official committee of unsecured creditors in drugmaker Nostrum Laboratories Inc.'s Chapter 11 case to help investment bank Raymond James find a buyer for the debtor's assets.
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January 28, 2025
4 Firms Look To Build $1B Sale Of Evergreen Theragnostics
Radiopharmaceutical-focused healthcare company Lantheus Holdings Inc. on Tuesday announced plans to buy Evergreen Theragnostics Inc. for up to $1 billion or more in a deal steered by four law firms.
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January 27, 2025
Jury Will Decide $140M Intuitive Robo-Surgery Antitrust Case
A federal judge on Monday rejected dueling requests for directed verdicts at the wrap of a $140 million antitrust trial over claims that Intuitive Surgical abused its market power in barring a repair provider's refurbished part for Intuitive's surgery robot, saying there's "substantial evidence" for jurors to decide on the parties' claims and counterclaims.
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January 27, 2025
Obesity-Focused Metsera Leads Biotech Firms Eyeing IPOs
Obesity-focused drug developer Metsera launched plans on Monday for an estimated $275 million initial public offering, joined by kidney-disease focused Maze Therapeutics, both of which plan to tap the markets this week under combined guidance of four law firms.
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January 27, 2025
Novo Nordisk's Obesity Drug Study Allegedly Duped Investors
Novo Nordisk was hit with a proposed securities class action in New Jersey federal court Friday, accusing the drugmaker of duping investors about its new weight loss drug CagriSema by failing to disclose that obesity patients were taking different dosages in a clinical study, which allegedly skewed results.
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January 27, 2025
PureHealth Nabs Majority Stake In HHG In $2.3B Deal
Middle Eastern healthcare group PureHealth Holding PJSC on Monday announced plans to buy a majority stake in Freek and Cypriot healthcare provider Hellenic Healthcare Group in a deal that values HHG at $2.3 billion.
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January 24, 2025
Biotech Co. Defends Antitrust Counterclaims Against Rival
Biotech company Zymo Research Corp. is defending its claims that German diagnostic competitor Qiagen GmbH's infringement suit is nothing more than an attempt to discredit a competitor, saying Zymo offered to prove it wasn't ripping off Qiagen's tech, only to have Qiagen bury "its head in the sand" and file suit.
Expert Analysis
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The Most-Read Legal Industry Law360 Guest Articles Of 2023
A range of legal industry topics drew readers' attention in Law360's Expert Analysis section this year, from associate retention strategies to ethical billing practices.
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How SEC And NY Cyber Reporting Rules Affect Key Industries
The new U.S. Securities and Exchange Commission and New York State Department of Financial Services cybersecurity disclosure requirements, and their competing obligations, reveal the increasing complexity for organizations evaluating and reacting to cybersecurity incidents — particularly those in the healthcare and financial services industries, say attorneys at Manatt.
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Trends Shaping The 2024 Consumer Packaged Goods Industry
The better-for-you segment within the consumer packaged goods industry is poised for a significant evolution in 2024, and industry players must remain agile and adaptive through M&A activities, legal considerations, sustainability initiatives and changing technology, says Christopher Cain at Foley & Lardner.
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Attorneys' Busiest Times Can Be Business Opportunities
Attorneys who resolve to grow their revenue and client base in 2024 should be careful not to abandon their goals when they get too busy with client work, because these periods of zero bandwidth can actually be a catalyst for future growth, says Amy Drysdale at Alchemy Consulting.
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In The World Of Legal Ethics, 10 Trends To Note From 2023
Lucian Pera at Adams and Reese and Trisha Rich at Holland & Knight identify the top legal ethics trends from 2023 — including issues related to hot documents, artificial intelligence and cybersecurity — that lawyers should be aware of to put their best foot forward.
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How Attorneys Can Be More Efficient This Holiday Season
Attorneys should consider a few key tips to speed up their work during the holidays so they can join the festivities — from streamlining the document review process to creating similar folder structures, says Bennett Rawicki at Hilgers Graben.
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Children's Book Writing Makes Me A Better Lawyer
Becoming a children's book author has opened doors to incredible new experiences of which I barely dared to dream, but the process has also changed my life by serving as a reminder that strong writing, networking and public speaking skills are hugely beneficial to a legal career, says Shaunna Bailey at Sheppard Mullin.
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How Clients May Use AI To Monitor Attorneys
Excerpt from Practical Guidance
Artificial intelligence tools will increasingly enable clients to monitor and evaluate their counsel’s activities, so attorneys must clearly define the terms of engagement and likewise take advantage of the efficiencies offered by AI, says Ronald Levine at Herrick Feinstein.
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ESG Around The World: Singapore
Singapore is keen to establish itself as a leading international financial center and a key player in the sustainable finance ecosystem, and key initiatives led by its government and other regulatory bodies have helped the Asian nation progress from its initially guarded attitude toward ESG investment and reporting, say attorneys at Morgan Lewis.
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The Pop Culture Docket: Judge D'Emic On Moby Grape
The 1968 Moby Grape song "Murder in My Heart for the Judge" tells the tale of a fictional defendant treated with scorn by the judge, illustrating how much the legal system has evolved in the past 50 years, largely due to problem-solving courts and the principles of procedural justice, says Kings County Supreme Court Administrative Judge Matthew D'Emic.
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Navigating Asset Tracing Challenges In Bankruptcy
A Virginia court’s recent ruling in Health Diagnostic Laboratory Inc.'s bankruptcy highlights the heightened demand for asset tracing and the strategic use of the lowest intermediate balance rule in recovering funds from commingled accounts, says Daniel Lowenthal at Patterson Belknap.
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Performing Music Makes Me A Better Lawyer
The discipline of performing live music has directly and positively influenced my effectiveness as a litigator — serving as a reminder that practice, intuition and team building are all important elements of a successful law practice, says Jeff Wakolbinger at Bryan Cave.
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'Patient' Definition Ruling Raises Discount Drug Questions
A South Carolina federal court's recent decision in Genesis Health Care v. Becerra supports a broader definition of a "patient" eligible to receive discounted drugs under the Section 340B program, but raises a host of novel questions regarding how the decision will affect covered entities and enforcement actions, say attorneys at McDermott.