Deals & Corporate Governance
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December 04, 2024
Aya Healthcare Buys Fla. Peer Cross Country In $615M Deal
Talent software and staffing company Aya Healthcare, steered by Procopio, will acquire Davis Polk & Wardwell-guided Cross Country Healthcare in an $18.61-per-share cash transaction worth roughly $615 million that will take the company private, according to a Wednesday statement.
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December 04, 2024
Fed. Circ. Judge Condemns 'Nonsense' Law In Antibody Fight
U.S. Circuit Judge Todd Hughes called the Federal Circuit's case law on interpreting preambles in patent claims "nonsense" on Wednesday, expressing frustration as a panel tried to work through whether Xencor Inc.'s antibody patent application was too broad.
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December 03, 2024
US Claims Court Backs HHS Agency's $20.5M IT Deal Choice
A federal claims court judge has denied a protest of a $20.5 million U.S. Department of Health and Human Services information technology deal, saying an HHS agency reasonably concluded that it had only "some confidence" in a government contractor protester.
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December 03, 2024
SEC Says Biopharma's Cooperation Helped It Avoid Penalty
A Houston biopharmaceutical company accused of misleading investors about the regulatory status of two cancer drugs agreed to settle the U.S. Securities and Exchange Commission's action against it on Tuesday without paying a dime, in recognition of what the SEC said was the company's self-reporting and cooperation with investigators.
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December 03, 2024
9th Circ. Ponders AIDS Generic Drug Reimbursement
A Ninth Circuit panel heard arguments Tuesday on a Seattle pharmacy's dispute with a benefits manager over reimbursements for the generic version of the HIV/AIDS drug Truvada, with one judge asking if the pharmacy was stuck with a lopsided deal, but also questioning if the contract obligated the payments.
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December 03, 2024
Chancery Orders Revenue Trust For Healthcare Co. 'Poaching'
A home health company formed through secret poaching by an allegedly disloyal former CEO, two officers and two private equities has been ordered to earmark much of its future revenue to a trust for the corporate victims, in a Delaware Court of Chancery ruling that described the subterfuge as "stunning."
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December 03, 2024
$1B Sandoz Placeholder Bid Needs More Support, Judge Says
A Connecticut federal judge on Tuesday said he cannot force Novartis spinoff Sandoz Inc. to set aside a $1 billion litigation placeholder in a generic drug pricing lawsuit without hearing whether the state attorney general can enforce possible orders in other states where the pharmaceutical company keeps assets.
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December 03, 2024
Vidal Aimed To Put USPTO Rulemaking In The Spotlight
Kathi Vidal's tenure as director of the U.S. Patent and Trademark Office has been marked by dedication to making the agency's decisions and processes more transparent, attorneys said ahead of her mid-December departure.
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December 03, 2024
PE-Backed Anesthesia Giant Can't Duck Antitrust Claims
A New York federal judge refused to nix a Syracuse hospital's antitrust damages claims against North America's largest anesthesia provider, finding the alleged multimillion-dollar costs incurred from understaffing and overpayment can be traced to noncompete agreements locking in anesthesiologists and nurse anesthetists.
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December 02, 2024
Investor Alleges Medical Device Co. Misled On FDA Clearance
The executives and directors of dialysis equipment company Outset Medical Inc. have been hit with a shareholder derivative suit in California federal court alleging they allowed the company to market its product without proper clearance from the U.S. Food and Drug Administration.
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December 02, 2024
Heritage's $10M Generic Drugs Deal With AGs Gets 1st OK
A Connecticut federal judge gave his initial approval on Monday to Heritage Pharmaceuticals Inc.'s $10 million settlement agreement with state attorneys general to resolve allegations it took part in an anticompetitive, price-fixing scheme focused on generic drugs.
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November 27, 2024
Yale Health Group Can Bolster Bid To Dodge $435M Sale Deal
Yale New Haven Health Services Corp. can add allegations to its complaint against Prospect Medical Holdings Inc. seeking to dodge a $435 million contract to buy a string of Connecticut hospitals and cite more examples of the seller's alleged breach of the deal, including $16 million in pension liens and ongoing regulatory investigations.
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November 26, 2024
CMS Cancels Call Center Solicitation With Disputed Labor Clause
The Centers for Medicare and Medicaid Services called off its unusual resolicitation of a still-active $6.6 billion contract for contact center services on Tuesday, following litigation from contractor Maximus over a contentious labor harmony agreement in the solicitation.
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November 26, 2024
Healthcare Deals This Week: Roche, CHS And More
This week in healthcare saw several high-profile deals focused on cancer treatments, including Roche's blockbuster deal with cell therapy developer Poseida Therapeutics and a $135 million series B round from oncology company Adcendo.
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November 26, 2024
HCA Hospital Sale On Hold Amid Antitrust Concerns
An Indiana healthcare system has withdrawn its application with the state health department for a planned purchase of a hospital from HCA Healthcare following concerns from the Federal Trade Commission, saying it needs more time to rework the application.
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November 26, 2024
Armstrong Teasdale Grows In Big Apple With New IP Partner
Armstrong Teasdale has welcomed an intellectual property partner to its New York office who brings more than 15 years of in-house and private practice experience and a doctorate in molecular biology and genetics.
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November 22, 2024
Barnes & Thornburg Adds Former Associate GC To DC Team
The former associate general counsel for the American Society of Anesthesiologists has moved her practice to Barnes & Thornburg LLP, joining its corporate team in Washington, D.C., as a partner, the firm announced.
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November 22, 2024
Taxation With Representation: Stradley Ronon, Davis Polk
In this week's Taxation With Representation, Amcor PLC buys Berry Global Group Inc., AeroVironment buys BlueHalo, Robinhood Markets Inc. acquires TradePMR, and Comcast Corp. spins off a suite of NBCUniversal cable television networks.
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November 20, 2024
Beasley Allen And J&J Tussle Over Atty Sanctions Bid
Beasley Allen Law Firm accused a Johnson & Johnson talc unit of using "deposition notices as weapons" in its quest to sanction a firm lawyer, while the company said the firm "refused to meaningfully subject itself or its members to any discovery" in its bankruptcy case.
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November 20, 2024
Healthcare-Focused PE Firm Clinches $2.3B Buyout Fund
Healthcare-dedicated private equity shop Frazier Healthcare Partners on Wednesday announced that it closed its oversubscribed 11th buyout fund after receiving $2.3 billion of investor commitments.
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November 19, 2024
Yoga Teacher Gets 7½ Years For Defrauding Mentally Ill Doctor
A yoga instructor who helped defraud $2.7 million from a mentally ill doctor by moving into his Malibu home and feeding him psychedelic drugs was sentenced to 90 months in prison by a California federal judge Tuesday, more than twice the time recommended by prosecutors.
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November 19, 2024
Calif. Biotech Firm Vera Taps Veteran Chief Legal Officer
Biotechnology firm Vera Therapeutics is welcoming a new chief legal officer in advance of an anticipated biologics submission to the U.S. Food and Drug Administration for a treatment targeting an autoimmune kidney disease.
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November 19, 2024
J&J Wants Beasley Allen Atty Sanctioned For Depo No-Show
Johnson & Johnson's talc unit called on a Texas bankruptcy court to sanction a Beasley Allen Law Firm attorney for "unilaterally" deciding not to attend a scheduled deposition in the company's bankruptcy case.
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November 19, 2024
Kirkland Advises Amcor On $8.4B Berry Global Buy
Kirkland & Ellis LLP-led Amcor PLC said Tuesday it has agreed to purchase fellow packaging company Berry Global Group Inc., in an all-stock deal that values Berry at more than $8.4 billion.Â
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November 18, 2024
Melinta Obtains Ban On Generic Antibiotic Injections In IP Row
A drugmaker that recently sold a manufacturing facility to Eli Lilly for nearly $1 billion has failed to persuade a federal judge in Chicago to wipe out patents covering a line of injections that treat infections developed by a recently bankrupt antibiotic developer.
Expert Analysis
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Congress Needs To Enact A Federal Anti-SLAPP Statute
Although many states have passed statutes meant to prevent individuals or entities from filing strategic lawsuits against public participation, other states have not, so it's time for Congress to enact a federal statute to ensure that free speech and petitioning rights are uniformly protected nationwide in federal court, say attorneys at Skadden.
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Takeaways From New Fla. Pharmacy Benefit Manager Rules
A recently passed Florida law imposes several new requirements on pharmacy benefit managers, necessitating practical considerations that range from potential license application delays to possible trade secret exposure, say Thomas Range and Bruce Platt at Akerman.
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Looking For Plausibility In FTC's Amgen Merger Challenge
The Federal Trade Commission is seeking to block Amgen's acquisition of Horizon, alleging that, if consummated, the deal would violate Section 7 of the Clayton Act — but this may be the first merger complaint in a generation that could be dismissed for failing to state a claim, say William MacLeod and David Evans at Kelley Drye.
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Some Client Speculations On AI And The Law Firm Biz Model
Generative artificial intelligence technologies will put pressure on the business of law as it is structured currently, but clients may end up with more price certainty for legal services, and lawyers may spend more time being lawyers, says Jonathan Cole at Melody Capital.
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A Lawyer's Guide To Approaching Digital Assets In Discovery
The booming growth of cryptocurrency and non-fungible tokens has made digital assets relevant in many legal disputes but also poses several challenges for discovery, so lawyers must garner an understanding of the technology behind these assets, the way they function, and how they're held, says Brett Sager at Ehrenstein Sager.
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High Court's Ethics Statement Places Justices Above The Law
The U.S. Supreme Court justices' disappointing statement on the court's ethics principles and practices reveals that not only are they satisfied with a status quo in which they are bound by fewer ethics rules than other federal judges, but also that they've twisted the few rules that do apply to them, says David Janovsky at the Project on Government Oversight.
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Time For Law Schools To Rethink Unsung Role Of Adjuncts
As law schools prepare for the fall 2023 semester, administrators should reevaluate the role of the underappreciated, indispensable adjunct, and consider 16 concrete actions to improve the adjuncts' teaching experience, overall happiness and feeling of belonging, say T. Markus Funk at Perkins Coie, Andrew Boutros at Dechert and Eugene Volokh at UCLA.
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Tips For In-House Legal Leaders In A Challenging Economy
Amid today's economic and geopolitical uncertainty, in-house legal teams are running lean and facing increased scrutiny and unique issues, but can step up and find innovative ways to manage outcomes and capitalize on good business opportunities, says Tim Parilla at LinkSquares.
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What Associates Need To Know Before Switching Law Firms
Excerpt from
The days of staying at the same firm for the duration of one's career are mostly a thing of the past as lateral moves by lawyers are commonplace, but there are several obstacles that associates should consider before making a move, say attorneys at HWG.
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A Case For Sharing Mediation Statements With Counterparties
In light of a potential growing mediation trend of only submitting statements to the mediator, litigants should think critically about the pros and cons of exchanging statements with opposing parties as it could boost the chances of reaching a settlement, says Arthur Eidelhoch at Eidelhoch Mediation.
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Tackling Long-Tail Legacy Liability Risk: A Defendant's Toolkit
Johnson & Johnson was recently rebuffed in its efforts to employ the "Texas Two-Step," which is likely to affect this increasingly popular method to isolate and spin off large asbestos and talc liabilities, but companies have multiple options to reduce long-tail legacy liability risk, says Stephen Hoke at Hoke LLC.
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Challenging Standing In Antitrust Class Actions: Injury-In-Fact
As demonstrated in recent cases, the classic injury-in-fact requirement for Article III standing claimed in most antitrust suits is economic harm — and while concrete harm satisfies the requirement, litigants may still be able to challenge whether economic injury has occurred, say Michael Hamburger and Holly Tao at White & Case.
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Preparing For Legal Scrutiny Of Data Retention Policies
Two recent cases involving Google and Meta should serve as a call to action for companies to ensure their data retention policies are updated and properly implemented to the degree of being able to withstand judicial scrutiny, especially as more data is generated by emerging technologies, say Jack Kallus and Labeed Choudhry at Kaufman Dolowich.