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July 19, 2024
12 Firms Guiding IPO Quartet Projected To Exceed $5B
Twelve law firms are on tap to guide four initial public offerings scheduled for the week of July 22 that could exceed $5 billion combined, led by potentially the year's largest IPO from cold-storage warehouse giant Lineage Inc.
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July 19, 2024
Gout-Focused Biotech Raises $60M In Latest Funding Round
Biotechnology company GRO Biosciences Inc. on Friday revealed that it clinched its oversubscribed Series B funding round after raising $60.3 million from investors, which will be used to help push the company's refractory gout treatments to clinic.
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July 19, 2024
Ex-Pharma Sales Exec Denies Fake Prescription Scheme
The former vice president of sales for pharmaceutical company U.S. Compounding Inc. pled not guilty in Manhattan federal court Friday to forging fake horse drug prescriptions in order to juice revenues.
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July 19, 2024
NC AG Looks To Stave Off Deposition In Hospital Contract Suit
North Carolina Attorney General Josh Stein doesn't want to be deposed in his suit accusing a for-profit health network of breaking its promise to maintain the standard of care at an Asheville hospital, saying he has no unique knowledge of the situation and should be shielded from testifying as a high-ranking government official.
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July 19, 2024
Chancery Keeps Masimo Meeting Date, Speeds Up Politan Suit
Masimo Corp. will not have to reschedule its Sept. 19 annual meeting in response to a lawsuit from Politan Capital Management LP, but will need to respond to some of the activist investor's concerns before the meeting takes place, a Delaware Chancery Court judge said Friday.
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July 19, 2024
Regeneron Rips DOJ's FCA Suit As 'Divorced From Reality'
Regeneron Pharmaceuticals Inc. has told a Massachusetts federal judge that a False Claims Act suit brought by the U.S. Department of Justice claiming the company withheld information about a drug's average sales price was "divorced from reality" and the practice the government was complaining about was commonplace.
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July 19, 2024
Kirkland, MoFo Steer $139M Take-Private Of Medtech Biz
Augmedix Inc., advised by Morrison Foerster LLP, on Friday announced its plans to go private following its sale to fellow healthcare technology company Commure Inc., advised by Kirkland & Ellis LLP, in a deal that values Augmedix at roughly $139 million.
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July 18, 2024
DaVita To Pay $34M In Medicare Kickback Whistleblower Suit
Dialysis company DaVita will pay more than $34 million to settle a Medicare fraud case over alleged kickbacks doctors received in exchange for patient referrals, after a whistleblower from the company's C-suite came forward, the U.S. Attorney's Office for the District of Colorado announced Thursday.
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July 18, 2024
Abbott Wins Trust Asset Freeze To Collect $33M In TM Fight
A New York federal judge has agreed to freeze trusts tied to a couple who owe Abbott Laboratories $33.4 million in sprawling trademark litigation over gray-market diabetes test strips, finding an asset freeze is necessary due to the defendants' "pervasive and repeated" use of the trusts for personal expenses and gambling.
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July 18, 2024
6th Circ. Sees 'Fundamental' Shift Post-Chevron In Title X Row
The toppling of Chevron deference set the tone for a Sixth Circuit hearing on Thursday as the court contemplated Tennessee's arguments that the U.S. Department of Health and Human Services went beyond its statutory power when it introduced new requirements for family planning funding.
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July 18, 2024
Florida Urges 11th Circ. To Allow Gender Law Despite Appeal
Florida officials have urged the Eleventh Circuit to immediately allow enforcement of a law restricting gender-affirming treatment for transgender minors and adults despite an appeal, saying that a lower court wrongly determined the law was discriminatory and that patients will be harmed if "life-altering" medical procedures are not outlawed.
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July 18, 2024
9th Circ. Revives Fired Doctor's COVID Vax Religious Bias Suit
The Ninth Circuit revived a doctor's claims that Washington State University failed to accommodate his religious beliefs when it fired him from his residency for refusing the COVID-19 vaccine, ruling Thursday that U.S. Supreme Court precedent necessitates another look at his case.
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July 18, 2024
Texas Psychiatric Patient's Head Trauma Suit Can Go Forward
A Texas appeals court has revived a man's claims against a doctor who he said failed to diagnose and treat a head injury while he was a psychiatric patient, saying the trial court was wrong to find his allegations had no basis in fact.
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July 18, 2024
Feds Say Loper Bright Not Relevant In IVF Policy Suit
The U.S. Department of Defense urged a New York federal court Thursday to throw out a nonprofit's lawsuit challenging its in vitro fertilization coverage policy for service members, countering the group's argument that the agency can't shake the suit because the U.S. Supreme Court upended Chevron deference.
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July 18, 2024
Air Transport Co. Sued In Del. Over Director Removal Rule
Stockholders of air transport venture Blade Air Mobility Inc. have sued the company in Delaware's Court of Chancery for an order invalidating a Blade director election provision described as allowing "backdoor" board removal of incumbents without legal authority.
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July 18, 2024
Democrats Float Prison Environmental Health Bill
Congressional Democrats on Thursday proposed legislation that would fund programs to improve air quality, water quality, temperature, mold, contagious diseases and other issues in federal prisons.
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July 18, 2024
Woman Can't Get Rectal Cancer Med Mal Suit Reinstated
A Texas appeals court won't let a woman revive her claims that a doctor with Houston Methodist Willowbrook failed to diagnose her rectal cancer, saying she failed to preserve for appeal the issue of whether the court properly granted a 30-day extension to file an amended expert report.
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July 18, 2024
Docs Get Same Hefty Opioid Sentences Despite Top Court Win
Two Alabama doctors accused of unlawfully prescribing patients fentanyl and other opioids failed to shave time off their lengthy prison sentences despite a landmark U.S. Supreme Court decision that raised the bar for such prosecutions.
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July 18, 2024
Attorney, Businessman Acquitted Of Crash Report Scheme
A Michigan federal judge on Tuesday cited insufficient evidence and ordered the cancellation of jury convictions against a lawyer and a medical business owner in an alleged scheme to obtain unreleased police crash reports illegally and use the reports to solicit clients.
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July 18, 2024
Healthcare Co. Says Fired In-House Atty Lacks Standing To Sue
Kidney care company Panoramic Health has urged a Colorado federal judge to toss a former assistant general counsel's lawsuit that claims she was fired for raising concerns about violations of federal anti-kickback statutes.
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July 18, 2024
Mixed Results Greet 2 IPOs For Hospital Giant, Insurance Firm
Private equity-backed hospital operator Ardent Health and insurance brokerage TWFG Inc. began trading Thursday after completing two initial public offerings that raised $379 million combined at varying points of their price ranges, guided by four law firms.
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July 18, 2024
Vermont Suit Accuses PBMs Of Price-Fixing
Vermont's attorney general filed suit against pharmacy benefit managers Express Scripts and CVS Wednesday, accusing the companies of abusing their market power to drive up prescription costs for consumers and squeezing out price competition from small pharmacies.
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July 18, 2024
Urgent Care Nurses Snag Collective Cert. In Wage Suit
Nurses claiming an urgent care chain owes them wages can move forward as a collective in their suit, an Illinois federal judge ruled, saying the worker who lodged the suit showed she was similarly situated as her colleagues.
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July 18, 2024
PharMerica Inks $100M Deal In 13-Year-Old Whistleblower Suit
PharMerica Corp. has agreed to pay $100 million to settle a former New Jersey nursing home owner's long-running whistleblower litigation over an alleged drug kickback scheme, according to the plaintiff's law firm.
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July 17, 2024
Judge Warns HHS It's Not In 'Reasonable Compliance'
The Department of Health and Human Services appears not to be in "reasonable compliance" of an injunction ordering it to develop an avenue for Medicare beneficiaries to appeal their hospitalization status, a Connecticut federal judge said in a Tuesday notice.
Expert Analysis
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Circuit Judge Writes An Opinion, AI Helps: What Now?
Last week's Eleventh Circuit opinion in Snell v. United Specialty Insurance, notable for a concurrence outlining the use of artificial intelligence to evaluate a term's common meaning, is hopefully the first step toward developing a coherent basis for the judiciary's generative AI use, says David Zaslowsky at Baker McKenzie.
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'Food As Health' Serves Up Fresh Legal Considerations
The growth of food as medicine presents a significant opportunity for healthcare organizations and nontraditional healthcare players to improve patient outcomes and reduce costs, though these innovative programs also bring compliance considerations that must be carefully navigated, say attorneys at McDermott.
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DC Circ. Ruling Heightens HHS Contract Pharmacy Challenges
The D.C. Circuit's recent ruling that the Section 340B program does not bar manufacturers from restricting deliveries of discounted drugs to contract pharmacies represents a second strike against the U.S. Department of Health and Human Services' current contract pharmacy policy and raises the stakes surrounding an upcoming Seventh Circuit ruling on the same issue, say attorneys at Foley Hoag.
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FTC Theories Of Harm After Anesthesia Co. Ruling
As Federal Trade Commission litigation against U.S. Anesthesia Partners proceeds following a Texas federal court's recent decision to dismiss a private equity sponsor from the suit, the case attempts to incorporate and advance some of the commission's theories of competitive harm from the final 2023 Merger Guidelines, say attorneys at Mintz.
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9th Circ. COVID 'Cure' Case Shows Perks Of Puffery Defense
The Ninth Circuit's March decision in a case surrounding a company's statements about a potential COVID-19 cure may encourage defendants to assert puffery defenses in securities fraud cases, particularly in those involving optimistic statements about breakthrough drugs that are still untested, say attorneys at Cahill Gordon.
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FTC Focus: Exploring The Meaning Of Orange Book Letters
The Federal Trade Commission recently announced an expansion of its campaign to promote competition by targeting pharmaceutical manufacturers' improper Orange Book patent listings, but there is a question of whether and how this helps generic entrants, say Colin Kass and David Munkittrick at Proskauer.
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Investors Can Aid In The Acceptance Of Psychedelic Medicine
Psychedelic medicine is ready to have its breakthrough moment, and although it still faces political, legal and communications challenges, private equity investors can play a significant role in changing the public perception on psychedelics from taboo to acceptance, say Kimberly Chew at Husch Blackwell, Charlie Panfil at the Daschle Group and Ethan Lutz at FTI Consulting.
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Class Actions At The Circuit Courts: May Lessons
In this month's review of class action appeals, Mitchell Engel at Shook Hardy discusses four notable circuit court decisions on topics from automobile insurance to securities — and provides key takeaways for counsel on issues including circuit-specific ascertainability requirements and how to conduct a Daubert analysis prior to class certification.
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Perspectives
Trauma-Informed Legal Approaches For Pro Bono Attorneys
As National Trauma Awareness Month ends, pro bono attorneys should nevertheless continue to acknowledge the mental and physical effects of trauma, allowing them to better represent clients, and protect themselves from compassion fatigue and burnout, say Katherine Cronin at Stinson and Katharine Manning at Blackbird.
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Series
Playing Music Makes Me A Better Lawyer
My deep and passionate involvement in playing, writing and producing music equipped me with skills — like creativity, improvisation and problem-solving — that contribute to the success of my legal career, says attorney Kenneth Greene.
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3rd Circ.'s Geico Ruling May Encourage Healthcare Arbitration
The Third Circuit's recent decision in Geico v. Mount Prospect, finding that claims under New Jersey's Insurance Fraud Prevention Act can be arbitrated, strengthens arbitration as a viable alternative to litigation, even though it is not necessarily always a more favorable forum, say Khaled Klele and Jessica Osterlof at McCarter & English.
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Proposed Cannabis Reschedule Sidesteps State Law Effects
The U.S. Department of Justice's recent proposal to move cannabis to Schedule III of the Controlled Substances Act provides certain benefits, but its failure to address how the rescheduling would interact with existing state cannabis laws disappointed industry participants hoping for clarity on this crucial question, says Ian Stewart at Wilson Elser.
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How Attys Can Avoid Pitfalls When Withdrawing From A Case
The Trump campaign's recent scuffle over its bid to replace its counsel in a pregnancy retaliation suit offers a chance to remind attorneys that many troubles inherent in withdrawing from a case can be mitigated or entirely avoided by communicating with clients openly and frequently, says Christopher Konneker at Orsinger Nelson.
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Using A Children's Book Approach In Firm Marketing Content
From “The Giving Tree” to “Where the Wild Things Are,” most children’s books are easy to remember because they use simple words and numbers to tell stories with a human impact — a formula law firms should emulate in their marketing content to stay front of mind for potential clients, says Seema Desai Maglio at The Found Word.
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A Changing Regulatory Landscape For Weight Loss Drugs
As drugs originally approved to treat diabetes become increasingly popular for weight loss purposes, federal and state regulators and payors are increasing their focus on how these drugs are prescribed, and industry participants should pay close attention to rapidly evolving compliance requirements, say attorneys at Goodwin.