Deals & Corporate Governance

  • June 05, 2024

    AI Co., Biotech Prep IPOs Worth $602M As Novelis Delays

    Healthcare data artificial intelligence platform Tempus AI and Australian biotech Telix Pharmaceuticals on Wednesday unveiled plans for initial public offerings that will aim to raise a combined total of approximately $602 million, while sustainable aluminum solutions provider Novelis, a day prior, postponed IPO plans due to market conditions.

  • June 05, 2024

    FTC Can't Pause Novant's $320M Bid To Buy NC Hospitals

    The Federal Trade Commission on Wednesday lost its bid to block Novant Health from buying two local hospitals in North Carolina for $320 million while it conducts an in-house review, with a federal judge reasoning that competition would actually fare better if the merger advanced.

  • June 04, 2024

    Ontrak CEO Shed $20M In Stock With Insider Info, Jury Hears

    Ontrak Inc.'s founder rushed to dump over $20 million of the healthcare company's stock using insider information about a souring relationship with its biggest client, Cigna, helping him avoid $12 million in losses, prosecutors told California federal jurors Tuesday in a first-of-its-kind securities fraud trial.

  • June 04, 2024

    Chinese Fund Asks To Nix Doc Bid In $830M Transaction Row

    A Chinese healthcare investment fund has asked a New York federal court to toss a Hong Kong medical fund's subpoena request seeking information in a foreign case stemming from a stymied $830 million transaction, saying the discovery bid isn't allowed for the private arbitration.

  • July 03, 2024

    The State Of The Retail Industry's Healthcare Investments

    Amazon and Walgreens separately announced changes to their healthcare offerings, revealing the growing divide between retail companies as they grapple with a complicated business. Law360 Healthcare Authority looks at major retailers' recent healthcare ventures and where they stand now.

  • June 03, 2024

    Judge Says It's Time For DIP Deal For Steward Healthcare

    A Texas bankruptcy judge on Monday gave Steward Health Care permission to offer a commitment fee to induce a lender to provide it with the financing to see the hospital chain through its Chapter 11 case, while saying the company needs that final commitment soon.

  • June 03, 2024

    Taxes Take Center Stage In Pot Industry Amid Fed. Policy Shift

    The federal government's move to loosen restrictions on cannabis is expected to trigger a wave of mergers and acquisitions structured as asset deals in the industry, especially among struggling retail operations willing to restructure in order to raise profits and lower their tax liabilities.

  • June 03, 2024

    Ropes & Gray Guides Becton On $4.2B Edwards Unit Buy

    Ropes & Gray LLP is guiding Becton Dickinson and Co. on a deal that will see the medical technology company pay $4.2 billion for Edwards Lifesciences' critical care product group, which focuses on patient monitoring using artificial intelligence, the companies said Monday.

  • May 31, 2024

    Caremark Cut Loose From CVS Price-Gouging Case

    A Rhode Island federal judge on Thursday dismissed Caremark from long-running litigation alleging CVS schemed with pharmacy benefit managers to overcharge insured health plans for generic drugs, finding Caremark's contracts with the funds have enforceable arbitration clauses.

  • May 31, 2024

    Healthcare REIT Closes $120M Loan For 8-Property Portfolio

    Diversified Healthcare Trust has finalized a deal for a 10-year, interest-only $120 million mortgage loan that's secured by eight of its properties located in seven states, the healthcare-focused real estate investment trust announced.

  • May 31, 2024

    Gov't Contracts Of The Month: Health, Spacecraft And Bombs

    The U.S. Defense Health Agency unveiled contracts worth tens of billions of dollars in May, including a scrutinized $43 billion medical staffing vehicle, and the National Aeronautics and Space Administration added $6 billion to a spacecraft deal. Here, Law360 looks at some of the most noteworthy government contracts over the last month.

  • May 30, 2024

    Rite Aid Ch. 11 Timeline Extended To Allow More Plan Review

    A New Jersey judge on Thursday lengthened the timeline for Rite Aid to seek an exit from its Chapter 11 bankruptcy, pushing the confirmation hearing date out by seven days after insurers and others said the company's schedule would not provide enough time to review its restructuring plan.

  • May 30, 2024

    Cue Health Spiraled Into Ch. 7 After FDA Nixed COVID Tests

    Medical-test maker Cue Health's promise of "lab-quality" COVID-19 tests fell apart after federal regulators rang the alarm that its tests were less reliable than advertised, leading the company to file for Chapter 7 liquidation in Delaware bankruptcy court. 

  • May 30, 2024

    FTC, Novant Ask To Delay In-House Trial On Merger Challenge

    The Federal Trade Commission and Novant Health have asked to postpone an upcoming administrative hearing over the nonprofit's proposed purchase of two North Carolina hospitals, a purchase that regulators are concerned will dampen competition in the region, according to a notice filed in federal court.

  • May 29, 2024

    Fla. Medicare Companies Get Class Cert. In Suit Against USAA

    A Florida state court judge granted certification to a class of Medicare-contracted businesses suing USAA Casualty Insurance Co. over allegations the insurer withheld policy information and intentionally passed its obligation to pay automobile injury claims downstream to other companies, according to attorneys representing the group of businesses.

  • May 28, 2024

    J&J To Pay $1.25B For Global Rights To Eczema Treatment

    Johnson & Johnson has agreed to buy the rights to an experimental treatment for eczema from Baker McKenzie-advised Numab Therapeutics for approximately $1.25 billion, the companies announced on Tuesday.

  • May 28, 2024

    Medical Test Maker To Liquidate After FDA Slams COVID Kits

    Medical test maker Cue Health filed for Chapter 7 liquidation in Delaware bankruptcy court Tuesday with more than $50 million in debt, two weeks after federal regulators warned customers to throw out its COVID-19 tests due to a higher risk of false results.

  • May 28, 2024

    DC Circ. Decision May Lead To Tighter 340B Pharma Contracts

    A D.C. Circuit decision last week holding that the federal 340B drug pricing program doesn't bar drugmakers from imposing contractual conditions on contract pharmacies could embolden them to impose tougher restrictions as they try to ease the program's financial burden.

  • May 24, 2024

    Healthcare REIT Nabs $800M Despite Tenant Turbulence

    Medical Properties Trust Inc. announced Friday that the real estate investment trust has secured a £631 million ($804 million) financing from a group of investors led by real estate investment firm Song Capital, in a deal led by Goodwin Procter LLP and Slaughter and May.

  • May 22, 2024

    Doc Gets 3 Mos. For Alexion Trades Despite 'Meaningful Job'

    A doctor was sentenced to three months in prison Wednesday for insider trading on an Alexion Pharmaceuticals acquisition, with a Manhattan federal judge saying the defendant's treatment of critically ill, underserved kidney disease patients does not amount to a "get out of jail free card."

  • May 22, 2024

    Teva, Bristol-Myers Cite Bystolic Against Cancer Drug Case

    Celgene and parent Bristol-Myers Squibb pointed a New Jersey federal judge to the dismissal, recently upheld by the Second Circuit, of an antitrust suit over delayed generic competition to AbbVie's hypertension treatment Bystolic to argue the same logic applies to their bid to duck antitrust claims over cancer therapies.

  • May 22, 2024

    Covington Reps As Biogen Makes $1.8B Bet On HI-Bio

    Biogen Inc. said Wednesday it has agreed to purchase Human Immunology Biosciences, or HI-Bio, a San Francisco-based biotechnology company working on targeted therapies for severe autoimmune diseases, in a deal that could see Biogen pay up to $1.8 billion.

  • May 21, 2024

    2nd Circ. Partially Backs Win For Nurses' Union Pension Plan

    In a 90-page opinion, the Second Circuit on Tuesday mostly upheld a Manhattan federal judge's decision affirming an arbiter's award favoring a nurses' pension plan, agreeing that White Oak Global Advisors LLC must return "Day 1" fees totaling nearly $2 million and pay prejudgment interest said to top $22 million.

  • May 21, 2024

    Sens. Challenge Pharma Lobbyist Over Patent Abuse

    U.S. senators from both sides of the aisle took turns at a Tuesday hearing questioning the pharmaceutical industry's top lobbyist over whether patent abuse plays a role in maintaining the high price of prescription drugs.

  • May 21, 2024

    Wyden Expands Pharma Tax Investigation With Pfizer Inquiry

    Senate Finance Committee Chairman Ron Wyden asked Pfizer to provide details on its tax practices to explain how the drug company has consistently paid tax rates that are significantly lower than the corporate tax rate in a letter released by the committee Tuesday.

Expert Analysis

  • Nursing Homes Must Prepare For Ownership Scrutiny

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    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.

  • In-Office Engagement Is Essential To Associate Development

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    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.

  • Trends Emerge In High Court's Criminal Law Decisions

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    In its 2022-2023 term, the U.S. Supreme Court issued nine merits decisions in criminal cases covering a wide range of issues, and while each decision is independently important, when viewed together, key trends and takeaways appear that will affect defendants moving forward, says Kenneth Notter at MoloLamken.

  • A Judge's Pitch To Revive The Jury Trial

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    Ohio state Judge Pierre Bergeron explains how the decline of the jury trial threatens public confidence in the judiciary and even democracy as a whole, and he offers ideas to restore this sacred right.

  • Negotiating AI-Life Sciences Partnerships To Minimize IP Risk

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    When life sciences companies and AI companies form partnerships to foster innovation, the parties should align interests as well as mitigate intellectual property risks by strategically identifying and addressing the unique AI-related legal issues, such as training data, AI model and output, say attorneys at Finnegan.

  • How To Recognize And Recover From Lawyer Loneliness

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    Law can be one of the loneliest professions, but there are practical steps that attorneys and their managers can take to help themselves and their peers improve their emotional health, strengthen their social bonds and protect their performance, says psychologist and attorney Traci Cipriano.

  • Litigation Funding Disclosure Should Be Mandatory

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    Despite the Appellate Rules Committee's recent deferral of the issue of requiring third-party litigation funding disclosure, such a mandate is necessary to ensure the even-handed administration of justice across all cases, says David Levitt at Hinshaw.

  • Recalling USWNT's Legal PR Playbook Amid World Cup Bid

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    As the U.S. Women's National Soccer Team strives to take home another World Cup trophy, their 2022 pay equity settlement with the U.S. Soccer Federation serves as a good reminder that winning in the court of public opinion can be more powerful than a victory inside the courtroom, says Hector Valle at Vianovo.

  • Revalidation Unlikely To End NIH Tech-Deal Bid Protest Saga

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    Recent U.S. Government Accountability Office decisions requiring the National Institutes of Health to again rework a $50 billion information technology contract probably won't result in an award for many protesters, and the corrective action will likely be followed by more protests, say James Tucker and Damien Specht at MoFo.

  • Colorado Antitrust Reform Carries Broad State Impact

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    Colorado recently became the latest state to update and expand its antitrust laws, and the new act may significantly affect enforcement and private litigation, particularly when it comes to workers and consumers, says Diane Hazel at Foley & Lardner.

  • Parsing Through The FTC's Proposed Health Privacy Updates

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    The Federal Trade Commission's recently proposed updates to its Health Breach Notification Rule contain subtle but significant changes to key terms that help modernize the agency's health app regulation and provide stakeholders an important opportunity to help shape the future of virtual health care, say attorneys at Arnold & Porter.

  • Regulating AI: An Overview Of Federal Efforts

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    The U.S. has been carefully managing a national policy and regulatory ecosystem toward artificial intelligence, but as AI technology continues to expand into our everyday lives, so too has its risks and the need for regulation, says Jennifer Maisel at Rothwell Figg.

  • Merger Guidelines Should Provide For Competition Trustees

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    Following the U.S. antitrust agencies' release of draft merger guidelines, retired U.S. Court of Federal Claims Chief Judge Susan Braden suggests a court-appointed competition trustee would help ensure U.S. competition without impairing economic prosperity.