Deals & Corporate Governance

  • March 20, 2024

    Top Attorney For Bristol-Myers Squibb Earned $5.9M In '23

    The longtime general counsel for biopharma giant Bristol-Myers Squibb earned more than $5.9 million in compensation for last year, a figure that was down slightly from $6.1 million in 2022 but still buoyed by her work on its recent CEO transition and other matters.

  • March 20, 2024

    2 Biotechs Unveil Separate Fundings Totaling $325M

    Life sciences companies Clasp Therapeutics and Cooley-advised Capstan Therapeutics, which develop treatments for a range of health conditions including cancer and autoimmune diseases, separately announced funding rounds Wednesday that together total $325 million.

  • March 19, 2024

    Skin Care Drug Co. Can Ask Creditors To OK Ch. 11 Plan

    A Delaware bankruptcy judge said Tuesday she will give a debtor formerly known as Timber Pharmaceuticals Inc. permission to send its Chapter 11 plan out for a vote by the dermatology drug developer's creditors, after counsel for the company explained it had expanded the creditors' ability to opt out of the plan's claim releases.

  • March 19, 2024

    J&J Says Former Exec Stole Thousands Of Files In Move To Pfizer

    Johnson & Johnson has sued a former competitive strategy director in New Jersey federal court, claiming he illegally downloaded thousands of confidential files on his way out the door to work for direct competitor Pfizer.

  • March 19, 2024

    IFF Selling Pharma Unit To French Co. Roquette In $2.85B Deal

    IFF, a maker of ingredients and additives for food, health and home-based products, said Tuesday it has agreed to sell its Pharma Solutions business to French plant-based ingredient maker Roquette at an enterprise value of up to $2.85 billion. 

  • March 18, 2024

    Patent Suit Over AstraZeneca's Tagrisso Heads To Jury

    A Delaware federal judge said Monday that there are too many "genuine factual disputes" to end a lawsuit from a Pfizer brand claiming it developed a cancer treatment that's being infringed by a drug that has racked up billions in sales for rival AstraZeneca.

  • March 18, 2024

    2nd Circ. Rejects 'New Standard' Of Patent Monopolies

    A Second Circuit panel on Monday revived antitrust allegations accusing Novartis of concealing the true history of an eye syringe treatment's development from the U.S. Patent and Trademark Office to edge Regeneron out of the market, faulting a district court for holding that antitrust markets can't be "coextensive" with the patent.

  • March 18, 2024

    Conn. Pharmacy, FDA Say They've Settled Suit Over Probe

    Medication compounding firm SCA Pharmaceuticals and the U.S. Food and Drug Administration together have asked a Connecticut federal judge to dissolve an emergency temporary restraining order blocking the agency from publishing comments related to its contested investigation of the pharmacy, with the parties saying they have executed a settlement.

  • March 18, 2024

    Biotech Ardelyx Beats Shareholder Suit Over Kidney Drug

    Biotechnology company Ardelyx Inc. has for now beaten a shareholder class action alleging the company and its top brass made false and misleading statements about regulatory approval of Ardelyx's drug for patients with chronic kidney disease.

  • March 18, 2024

    Leerink Enticed Goldman Exec With False Promises, Suit Says

    An investment banker says she was lured away from a senior position at Goldman Sachs to Boston-based Leerink Partners with what turned out to be a meaningless job title and false promises of guaranteed bonuses, according to a lawsuit filed Monday in Massachusetts state court.

  • March 18, 2024

    Pfizer To Reduce Stake In Haleon To 24% Through Share Sale

    Haleon PLC said Monday that U.S. pharmaceutical titan Pfizer Inc. will reduce its stake in the British consumer healthcare company to 24%.

  • March 15, 2024

    'Cobra Venom' Painkiller Co. Inks Deal To Settle SEC Claims

    A penny stock company that previously held itself out as a maker of cobra venom-infused pain drugs has agreed to resolve U.S. Securities and Exchange Commission fraud claims, according to court filings that note the company's two principals have also reached a settlement.

  • March 15, 2024

    Hospitals Say Constitutional Defenses Valid In FTC Merger Row

    Two North Carolina hospital systems shot back at the Federal Trade Commission's contention that constitutional defenses are immaterial to the agency's challenge of a $320 million merger plan, arguing that case law shows that striking the positions would be premature.

  • March 14, 2024

    Clinicians May Continue Kickback Suit Vs. Mental Health Co.

    A mental healthcare company can't dodge a suit claiming that it implemented a kickback scheme to pay its clinicians that led to unpaid wages, an Arizona federal judge ruled, saying the workers suing the organization supported their claims.

  • March 14, 2024

    PE-Backed Latin American Healthcare Firm Prices $420M IPO

    Private equity-backed Latin American hospital operator Auna SA on Thursday set a price range on an estimated $420 million U.S. initial public offering, with plans to use the proceeds to repay debt and financing agreements.

  • March 14, 2024

    Drug Wholesalers Want Preliminary OK On $265M Sandoz Deal

    A group of direct purchasers of generic drugs has asked a Pennsylvania federal court for approval of a $265 million settlement with Swiss drugmaker Sandoz over allegations of federal antitrust violations.

  • March 13, 2024

    TriZetto's $200M Jury Awards Thrown Out In Syntel Dispute

    A New York federal judge on Wednesday vacated roughly $200 million in damages awards Cognizant affiliate TriZetto won in a trade secret misappropriation and copyright infringement suit against Syntel, ruling that the awards were improperly calculated.

  • March 13, 2024

    Hospital Operator Defends Releases In Ch. 11 Plan

    California-based hospital operator Alecto Healthcare Services LLC asked a Delaware bankruptcy judge Wednesday to approve its small business Chapter 11 reorganization, saying it is not leaving money on the table by releasing potential clawback claims.

  • March 13, 2024

    Moderna's CLO Saw Growth In 2023 Compensation

    Moderna Inc.'s top attorney earned about $4.3 million in total compensation last year, an increase compared to 2022 but a steep drop from the near $11.5 million she saw in 2021, according to a recent securities filing.

  • March 12, 2024

    Breast Implant Co.'s $90M DIP OK'd With Creditor Protections

    Bankrupt breast implant maker Sientra Inc. received final court approval in Delaware bankruptcy court for its $90 million debtor-in-possession financing after adding in lien challenge protections for unsecured creditors.

  • March 12, 2024

    UnitedHealth Can't Get Early Win In Workers' ERISA Suit

    A Minnesota federal court denied most of UnitedHealth Group Inc.'s bid for a pretrial win in a lawsuit alleging mismanagement of an employee 401(k) plan, finding Tuesday that allegations the company refused to ax underperforming funds to preserve a business relationship with Wells Fargo should go to trial.

  • March 11, 2024

    Acadia Investors Get Class Cert. In Suit Over Parkinson's Drug

    A California federal judge on Monday certified a class of Acadia Pharmaceuticals investors in a lawsuit accusing the company of making false and misleading statements regarding the likelihood that its Parkinson's psychosis drug would also be approved for the broader use of dementia-related psychosis.

  • March 11, 2024

    Illumina Brass Faces Shareholder Suit Over Grail Deal Debacle

    Current and former directors and executives of Illumina, including former U.S. Food and Drug Administration Commissioner Scott Gottlieb, have been hit with a shareholder derivative suit in California federal court over their role in the biotech company's failed $8 billion deal to reacquire its cancer-detection company Grail Inc.

  • March 11, 2024

    Judge OKs Eye Care Tech Co.'s $8M DIP Request

    A Texas bankruptcy judge on Monday approved optometry software company Eye Care Leaders Portfolio Holdings LLC's request to draw on the remainder of its $8 million in debtor-in-possession funds for its Chapter 11 case, saying the company had given good reason to believe it was poised for a rewarding auction.

  • March 11, 2024

    Walmart Fails To Sink Feds' Opioid Crisis Lawsuit

    A Delaware federal judge on Monday kept alive a government lawsuit accusing Walmart of fueling the nation's opioid crisis, ruling that the company could be held liable for filling illegitimate prescriptions its compliance officers allegedly failed to flag for unwitting pharmacists.

Expert Analysis

  • Tips For Litigating Against Pro Se Parties In Complex Disputes

    Author Photo

    Litigating against self-represented parties in complex cases can pose unique challenges for attorneys, but for the most part, it requires the same skills that are useful in other cases — from documenting everything to understanding one’s ethical duties, says Bryan Ketroser at Alto Litigation.

  • It's Time To Prescribe Frameworks For AI-Driven Health Care

    Author Photo

    As health care providers begin to adopt artificial intelligence in clinical settings, new legal and regulatory challenges are emerging, with the critical issue being balancing AI's benefits and innovations in health care while ensuring patient safety and provider accountability, say attorneys at Kirkland.

  • Preparing For Higher Health Transaction Standards In Calif.

    Author Photo

    The California Office of Health Care Affordability's revised draft regulations on the reporting of health care transactions incorporate useful improvements to the regulatory scheme, but also contain provisions that may cause concerns for parties contemplating covered transactions, says Andrew Demetriou at Husch Blackwell.

  • How Ill. Supreme Court Could Shape Statutory Violation Cases

    Author Photo

    In Fausett v. Walgreens, the Illinois Supreme Court will take up the question of whether a violation of the Fair and Accurate Credit Transactions Act satisfies the injury-in-fact requirement, and any outcome could significantly change the litigation landscape in Illinois, say Donald Patrick Eckler and Joshua Zhao at Freeman Mathis.

  • Pro Bono Work Is Powerful Self-Help For Attorneys

    Author Photo

    Oct. 22-28 is Pro Bono Week, serving as a useful reminder that offering free legal help to the public can help attorneys expand their legal toolbox, forge community relationships and create human connections, despite the challenges of this kind of work, says Orlando Lopez at Culhane Meadows.

  • Playing In A Rock Cover Band Makes Me A Better Lawyer

    Author Photo

    Performing in a classic rock cover band has driven me to hone several skills — including focus, organization and networking — that have benefited my professional development, demonstrating that taking time to follow your muse outside of work can be a boon to your career, says Michael Gambro at Cadwalader.

  • The Pop Culture Docket: Judge Espinosa On 'Lincoln Lawyer'

    Author Photo

    The murder trials in Netflix’s “The Lincoln Lawyer” illustrate the stark contrast between the ethical high ground that fosters and maintains the criminal justice system's integrity, and the ethical abyss that can undermine it, with an important reminder for all legal practitioners, say Judge Adam Espinosa and Andrew Howard at the Colorado 2nd Judicial District Court.

  • How To Navigate The FTC's New Private Equity Frontier

    Author Photo

    The Federal Trade Commission's recent district court complaint against an anesthesia firm and its private equity partner tests key bounds of the agency's stand-alone authority, and defense strategies can include challenges to both the geographic and the service market fronts, say attorneys at Baker McKenzie.

  • Newman Suspension Shows Need For Judicial Reform

    Author Photo

    The recent suspension of U.S. Circuit Judge Pauline Newman following her alleged refusal to participate in a disability inquiry reveals the need for judicial misconduct reforms to ensure that judges step down when they can no longer serve effectively, says Aliza Shatzman at The Legal Accountability Project.

  • Considerations And Calculations For DOJ Clawback Program

    Author Photo

    The U.S. Department of Justice’s clawback pilot program announced earlier this year presents numerous questions for businesses, and both hypothetical and recent real-world examples capture how companies’ cost-benefit analyses about whether to claw back compensation in exchange for penalty reductions may differ, say Yogesh Bahl and Jonathan Hecht at Resolution Economics.

  • SEC's Life Sciences Actions Utilize Novel Tools And Theories

    Author Photo

    Recent enforcement actions show that the U.S. Securities and Exchange Commission is employing new forms of data analytics and noteworthy applications of insider trading laws in its scrutiny of fraud within the life sciences and health industries, say Edward Imperatore and Jina Choi at MoFo.

  • How And Why Your Firm Should Implement Fixed-Fee Billing

    Author Photo

    Amid rising burnout in the legal industry and client efforts to curtail spending, pivoting to a fixed-fee billing model may improve client-attorney relationships and offer lawyers financial, logistical and stress relief — while still maintaining profit margins, say Kevin Henderson and Eric Pacifici at SMB Law Group.

  • A Guide For Landlords Pivoting To Medical Office Buildings

    Author Photo

    The current commercial real estate landscape presents a unique opportunity for landlords, real estate developers and investors to accommodate the growing health care industry's need for office buildings, though proper navigation of complex regulations and leasing concerns is necessary, says Mehdi Sinaki at Michelman & Robinson.