Deals & Corporate Governance
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October 15, 2024
Fla. Medical Co. Hits Ch. 11 With Plans For Quick $45M Sale
The operator of 26 primary care centers in Florida has filed for Chapter 11 in hopes of a quick $45 million sale to an affiliate of health insurance company Humana Inc.
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October 15, 2024
Healthcare Deals This Week: Forbion, Eli Lilly And More
This week in healthcare, a handful of startups closed notable private rounds, while a Dutch venture capital firm announced it had raised more than 鈧2 billion for life sciences investments.
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October 15, 2024
BrightSpring Legal Chief To Retire After More Than 2 Decades
The chief legal officer at Kentucky-based BrightSpring Health Services Inc. has announced his decision to retire from his current role at the healthcare services platform, according to a recent U.S. Securities and Exchange Commission filing.
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October 15, 2024
Sacklers Say Opioid Claims Can't Undo Purdue Transfers
The family that owns bankrupt drugmaker Purdue Pharma LP is challenging an effort by creditors to claw back billions of dollars transferred by the company to Sackler trusts, telling a New York federal judge that opioid claims fail and can't be used to prove that Purdue made the distributions knowing it was insolvent.
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October 15, 2024
The 2024 极速赛车 Pulse Social Impact Leaders
Check out our Social Impact Leaders ranking, analysis and interactive graphics to see which firms stand out for their engagement with social responsibility and commitment to pro bono service.
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October 15, 2024
Law Firms Diverge As Anti-ESG Pushback Continues
A continuing onslaught of legislation and litigation opposing corporate environmental, social and governance actions has created a fork in the road for law firms, with some choosing to scale back efforts and others pushing ahead with their internal ESG and diversity, equity and inclusion goals.
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October 15, 2024
FTC Wants More Info On $1.36B Home Healthcare Deal
The Federal Trade Commission has requested more information about healthcare solutions company Owens & Minor Inc.'s planned $1.36 billion purchase of home-based care business Rotech Healthcare Holdings Inc., extending the agency's merger review.
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October 10, 2024
Yale Hospital Says Pension Liens Breach $435M Sale Deal
A hospital operator's purported $4 million pension liability has saddled its properties with liens that breach a $435 million sale contract, Yale New Haven Health told a Connecticut state judge Wednesday in a letter suggesting it may add claims to litigation over its deal with Prospect Medical Holdings Inc.
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October 10, 2024
Biotech Co. Gritstone Hits Ch. 11 With Over $100M Debt
Vaccine developer Gritstone bio Inc. filed for Chapter 11 protection in Delaware bankruptcy court Thursday with at least $100 million of debt, saying it was in discussions with a potential bidder for a sale of the business to ensure it can continue researching cancer and other disease treatments.聽
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October 10, 2024
Sen. Warren, Novo At Odds On Merits Of $16.5B Deal
Sen. Elizabeth Warren on Thursday raised the alarm on Novo Holdings' planned $16.5 billion purchase of Catalent, arguing the transaction could give Novo "unprecedented" control over the production of certain obesity drugs by Eli Lilly and other top competitors, but Novo insists the deal would give it no such edge.
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October 08, 2024
Why Health Attys Are Watching The Rise Of Animal Healthcare
Healthcare attorneys are translating their traditional healthcare dealmaking skills into animal health transactions as the space grows.
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October 08, 2024
Abridge GC Talks AI's Future In Healthcare Industry
Interfacing with artificial intelligence at your doctor's office is going to eventually feel as natural as turning on a tap to get running water. Tim Hwang, general counsel at generative AI company Abridge, shares his thoughts on the technology's future in healthcare.
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October 08, 2024
Renovus Capital Clinches 4th PE Fund With $875M In Tow
Philadelphia-area-based private equity firm Renovus Capital Partners, advised by Morgan Lewis & Bockius LLP and Winston & Strawn LLP, on Tuesday revealed that it closed its fourth private equity fund with $875 million in tow.
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October 07, 2024
AbbVie's Top Brass Escape Suit Over Rinvoq Claims, For Now
An Illinois federal judge Friday tossed AbbVie investors' suit challenging directors' statements about the potential for its rheumatoid arthritis drug Rinvoq to be approved for other conditions, a possibility that collapsed over safety risks with Pfizer's competing drug Xeljanz, finding the investors don't allege the directors knew Xeljanz's results would affect Rinvoq.
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October 07, 2024
Biotech, Medical Device Firms Prep Three IPOs Totaling $376M
Two venture-backed biotechnology startups and a medical device maker launched plans on Monday for three initial public offerings projected to raise about $376 million combined, adding to a busy schedule of IPOs this week.
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October 07, 2024
Kirkland-Led Shore Capital Lands Almost $2B Across 3 Funds
Lower-middle-market private equity shop Shore Capital Partners, led by Kirkland & Ellis LLP, on Monday announced that it wrapped three funds with a combined total of nearly $2 billion in commitments.
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October 07, 2024
High Court Rejects Pleas To Hear 7 Patent Cases
The U.S. Supreme Court on Monday聽turned down seven petitions seeking review of decisions in patent cases, including appeals dealing with double patenting, patent eligibility and Patent Trial and Appeal Board procedures.
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October 07, 2024
Justices Won't Hear Shkreli's Bid To Undo $64M Disgorgement
The U.S. Supreme Court refused Monday to review former pharmaceutical executive Martin Shkreli's challenge of a disgorgement order requiring him to pay up to $64 million for an alleged scheme to increase the price of a life-saving drug by 4,000%.
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October 04, 2024
Massumi & Consoli Adds Ex-Morgan Lewis Attorney In DC
An attorney with more than two decades of experience representing clients in transactions in the healthcare industry moved her practice this week to Massumi & Consoli's Washington, D.C., office after more than 13 years with Morgan Lewis & Bockius LLP.
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October 03, 2024
12 Lawyers Who Are The Future Of The Supreme Court Bar
One attorney hasn't lost a single U.S. Supreme Court case she's argued, or even a single justice's vote.聽One attorney is perhaps "the preeminent SCOTUS advocate." And one may soon become U.S. solicitor general, despite acknowledging there are "judges out there who don't like me." All three are among a dozen lawyers in the vanguard of the Supreme Court bar's next generation, poised to follow in the footsteps of the bar's current icons.
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October 02, 2024
Avadel Tells Fed. Circ. It Should Be Free To Test Sleep Drug
Specialty-drug maker Avadel Pharmaceuticals says a Delaware federal court went too far in blocking it from testing a narcolepsy drug to treat an uncommon sleep disorder after finding that it infringed a patent covering a rival's narcolepsy drug.
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October 01, 2024
DOJ Joins Employee Antitrust Suit Against UPMC
The U.S. Department of Justice is backing a proposed class action from University of Pittsburgh Medical Center workers who say the hospital used noncompetes and blacklists to suppress wages, telling a Pennsylvania federal judge that UPMC's motion to dismiss the suit sets an "insurmountable" pre-discovery bar for plaintiffs.
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October 01, 2024
What BioAge's Upsized IPO Tells Us About The Obesity Trend
A $198 million upsized public offering by obesity drug developer BioAge points to strong interest in the obesity market and a pipeline of biotech IPOs heading into the end of the year.
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October 01, 2024
Latham Helps TJC Clinch 2nd Continuation Fund At $2.1B
Latham & Watkins LLP-advised middle-market private equity firm TJC LP on Tuesday announced that it clinched its second continuation fund with $2.1 billion of investor commitments led by Carlyle subsidiary AlpInvest.
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September 30, 2024
Bristol-Myers Beats Celgene Investors' Drug Delay Suit
A New York federal judge on Monday tossed UMB Bank's claims that Bristol-Myers Squibb improperly delayed U.S. Food and Drug Administration approval of a cancer treatment to avoid paying shareholders $6.4 billion owed from a 2019 acquisition of Celgene Corp., saying the bank lacked standing to sue.
Expert Analysis
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How Merger Review Overhaul Could Affect Health Industry
For those in the health care industry considering growth and expansion strategies, the antitrust agencies' recent proposals for new Hart-Scott-Rodino rules and more complex merger guidelines will increase deal timelines, the merging parties' burden, and overall uncertainty and potential antitrust risk as to the outcome, say attorneys at Husch Blackwell.
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More States Should Join Effort To Close Legal Services Gap
Colorado is the most recent state to allow other types of legal providers, not just attorneys, to offer specific services in certain circumstances 鈥 and more states should rethink the century-old assumptions that shape our current regulatory rules, say Natalie Anne Knowlton and Janet Drobinske at the University of Denver.
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Identifying Trends And Tips In Litigation Financing Disclosure
Growing interest and controversy in litigation financing raise several salient concerns, but exploring recent compelled disclosure trends from courts around the country can help practitioners further their clients' interests, say Sean Callagy and Samuel Sokolsky at Arnold & Porter.
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Bid Protest Spotlight: Personnel Loss, Conflicts, Timeliness
In this month's bid protest roundup, Locke Bell at MoFo highlights recent decisions from the U.S. Court of Federal Claims and the U.S. Government Accountability Office, addressing an offeror's loss of key personnel, organizational conflicts of interest arising out of reliance on former government employees in preparing a bid, and protest timeliness when no debriefing is required.
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Congress Needs Better Health Care Fraud Data From DOD
The U.S. Department of Defense does not collect enough data to prevent health care and service contractor fraud and waste, so Congress should enact benchmarks that the DOD must meet when gathering and reporting data, enabling lawmakers to make better-informed decisions about defense appropriations, says Jessica Lehman at Verizon.
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The Pop Culture Docket: Judge Elrod On 'Jury Duty'
Though the mockumentary series 鈥淛ury Duty鈥 features purposely outrageous characters, it offers a solemn lesson about the simple but brilliant design of the right to trial by jury, with an unwitting protagonist who even John Adams may have welcomed as an impartial foreperson, says Fifth Circuit Judge Jennifer Elrod.
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4 Business-Building Strategies For Introvert Attorneys
Excerpt from
Introverted lawyers can build client bases to rival their extroverted peers鈥 by adapting time-tested strategies for business development that can work for any personality 鈥 such as claiming a niche, networking for maximum impact, drawing on existing contacts and more, says Ronald Levine at Herrick Feinstein.
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3 Ways Justices' Disclosure Defenses Miss The Ethical Point
The rule-bound interpretation of financial disclosures preferred by U.S. Supreme Court Justices Samuel Alito and Clarence Thomas 鈥 demonstrated in their respective statements defending their failure to disclose gifts from billionaires 鈥 show that they do not understand the ethical aspects of the public's concern, says Jim Moliterno at the Washington and Lee University School of Law.
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Caregiver Flexibility Is Crucial For Atty Engagement, Retention
As the battle for top talent continues post-pandemic, many firms are attempting to attract employees with progressive hybrid working environments 鈥 and supporting caregivers before, during and after an extended leave is a critically important way to retain top talent, says Manar Morales at The Diversity & Flexibility Alliance.
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No End In Sight For Pandemic Relief Fraud Enforcement
Congress' recent decision to extend the statute of limitations to 10 years for fraud related to pandemic relief means the era of enforcement actions brought under the False Claims Act and the Financial Institutions Reform, Recovery and Enforcement Act has only just begun, say attorneys at Crowell & Moring.
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Hot OSHA Summer: Regulatory Activity In Full Swing
Recent actions by the Occupational Safety and Health Administration 鈥 including changes to its injury and illness reporting rule, its proposal to allow nonemployee union reps to accompany OSHA inspectors, and a hazard alert on extreme heat 鈥 show that the agency's regulatory and enforcement regime remains vigorous, says Heather MacDougall at Morgan Lewis.
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Nursing Homes Must Prepare For Ownership Scrutiny
Due to the Centers for Medicare & Medicaid Services' designation of nursing home ownership changes as a high risk category, and increased transparency and notice obligations for changes in skilled nursing facility ownership set to take effect in Pennsylvania in October, owners should anticipate a heightened level of review and delays, say Mark Mattioli and Paula Sanders at Post & Schell.
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In-Office Engagement Is Essential To Associate Development
As law firms develop return-to-office policies that allow hybrid work arrangements, they should incorporate the specific types of in-person engagement likely to help associates develop attributes common among successful firm leaders, says Liisa Thomas at Sheppard Mullin.