Deals & Corporate Governance

  • March 07, 2024

    Activist Caligan Sets Sights On Anika Therapeutics Again

    New York-based activist investor Caligan Partners LP disclosed a nearly 10% stake in Anika Therapeutics and nominated two director candidates, a move that comes a year after the hedge fund urged the biotech company to consider "urgent changes" to its operations and structure.

  • March 06, 2024

    J&J Seeks Exit From Suit Over Stelara Exclusivity

    Johnson & Johnson told a Virginia federal court Tuesday it shouldn't have to face a proposed class action claiming it has been trying to stifle competition in the market for the immunosuppressive drug Stelara, saying there was no "scheme" to enforce its patents as the suit alleges.

  • March 06, 2024

    FTC Can Depose Hospitals' Execs In Merger Challenge

    A North Carolina federal magistrate judge has overruled two hospital systems' objections to the depositions of six Novant Health employees by the Federal Trade Commission in its antitrust action against a proposed $320 million merger, rejecting the healthcare providers' arguments that such depositions would be duplicative.

  • March 06, 2024

    Biopharmaceutical Biz Closes $259M Upsized Funding Round

    South San Francisco, California-based clinical-stage biopharmaceutical company Alumis Inc. on Wednesday announced that it closed its upsized Series C funding round after securing $259 million from venture capital investors.

  • March 06, 2024

    Rite Aid Aims To Divest Most Of Its Health Dialog Business

    Bankrupt drugstore chain Rite Aid Corp. said Wednesday that it will sell most of its Health Dialog business, which provides personalized health services, to Carenet Health for an undisclosed amount.

  • March 05, 2024

    FTC Chair Decries PE's Healthcare Impacts As Probe Starts

    Federal Trade Commission Chair Lina Khan on Tuesday lamented what she deemed the "financialization" of healthcare resulting from private equity buyouts, in remarks coinciding with the launch of a multijurisdictional request for public comment on PE and other companies' growing control over the healthcare system.

  • March 05, 2024

    DocGo Hit With Investor Suit Over 'Limitless' Charter Clause

    A mobile-healthcare company under scrutiny after being awarded a $432 million contract to provide services for migrants in New York City has been hit with a stockholder suit in Delaware's Court of Chancery alleging that the company's charter contains "broad and limitless" provisions that run afoul of state corporate law.

  • March 05, 2024

    Rite Aid Process To Break Leases, Close Stores In Ch. 11 OK'd

    A New Jersey bankruptcy judge on Tuesday signed off on procedures for bankrupt retail pharmacy chain Rite Aid Corp. to potentially shutter 210 rented stores with fast-approaching lease rejection deadlines, overruling objections from two landlords.

  • March 05, 2024

    EQT Lands $3.3B For Climate And Health Investments

    Swedish private equity giant EQT, advised by Kirkland & Ellis LLP, on Tuesday announced that it clinched its EQT Future Fund after securing €3 billion ($3.3 billion) in commitments, which will be used to invest across the climate and nature and health and well-being sectors.

  • March 04, 2024

    Novant Rival Fights Bid To Access Confidential FTC Docs

    Novant Health can't unshield information given to regulators challenging its $320 million merger with two hospitals in North Carolina, a competitor hospital has told a federal court, saying it turned over those sensitive documents believing they would always be kept under wraps.

  • March 04, 2024

    Hospital Operator Pushes For Ch. 11 Plan Confirmation

    California-based hospital operator Alecto Healthcare Services LLC defended its Chapter 11 plan proposal Monday in Delaware bankruptcy court, saying opposition from creditors is based on a faulty belief that there are valuable claims that can be asserted for the benefit of creditors.

  • March 04, 2024

    Bayer Pays $310M For European Rights To Heart Drug

    German pharmaceutical giant Bayer and public biopharmaceutical company BridgeBio announced Monday that they would form a $310 million partnership centered on the experimental heart drug acoramidis.

  • March 04, 2024

    Sorrento Creditors Fight To Keep Ch. 11 In Texas

    Creditors for drug developer Sorrento Therapeutics Inc. have asked a Texas bankruptcy judge to keep the company's Chapter 11 case in the Lone Star State, saying the U.S. trustee's bid to move it comes too late and wouldn't help those hoping for recoveries.

  • March 04, 2024

    REIT Adds Board Posts To End Contest With Activist Investor

    Healthcare real estate investment trust Ventas Inc. has agreed to add two new board members in a one-year deal to end a campaign for changes at the firm from an activist investor hedge fund that has accused the REIT of lagging behind its industry peers.

  • March 01, 2024

    NY Judge Tosses $6.4B BMS Investor Action For Good

    Celgene Corp. investors could not convince a New York federal judge that Bristol-Myers Squibb Co. was intentionally trying to flout securities law by delaying the U.S. Food and Drug Administration's approval of a cancer treatment in order to avoid giving them a $6.4 billion payout. 

  • March 01, 2024

    Plaintiffs Blast Prison Health Co.'s 'Potemkin Village' Case

    An attorney for plaintiffs seeking the dismissal of prison health care company Tehum Care Services Inc.'s "Texas Two-Step" bankruptcy case assailed on Friday what he called the "Potemkin village" nature of the debtor during the first day of a trial unfolding in Texas bankruptcy court.

  • March 01, 2024

    FTC Attacks Constitutional Defenses In Hospital Merger Fight

    The Federal Trade Commission has urged a federal court to trim Novant Health's defenses in the agency's challenge of a $320 million plan to buy two North Carolina hospitals, citing case law holding that constitutional arguments are immaterial to the court's consideration of an antitrust injunction bid.

  • March 01, 2024

    Avista Capital Partners Closes $1.5B Healthcare Fund

    Private equity firm Avista Capital Partners announced Friday that it had closed a $1.5 billion fund advised by Kirkland & Ellis focused on investments in the healthcare industry.

  • February 29, 2024

    Tenet To Sell 2 Calif. Hospitals To Adventist For $550M

    Tenet Healthcare Corp. is selling two of its hospitals on the central California coast to health system Adventist Health for around $550 million, the two announced Thursday.

  • February 29, 2024

    BlossomHill Therapeutics Closes $100M Series B

    Biotechnology company BlossomHill Therapeutics has raised a $100 million Series B financing round to advance its pipeline of cancer and autoimmune treatments, the company announced Thursday.

  • February 29, 2024

    Sandoz To Pay $265M To Resolve Claims In Price-Fixing MDL

    Swiss generic drug and biosimilar manufacturer Sandoz announced Thursday that two of its subsidiaries have reached a $265 million settlement with the direct purchasers of generic medications to resolve allegations of federal antitrust violations.

  • February 29, 2024

    Epstein Becker Guides Conn. Hospital, NY Nonprofit Merger

    Epstein Becker Green is steering Connecticut hospital owner Nuvance Health in its planned merger with Northwell Health, New York's largest healthcare provider, a union that will create a two-state system operating under the latter nonprofit's banner.

  • February 28, 2024

    Cravath Steers Viatris' $350M Collab With Swiss Co.

    Healthcare company Viatris and Swiss pharmaceutical research company Idorsia are teaming up to develop two late-stage drugs, the companies announced Wednesday.

  • February 28, 2024

    Fish & Richardson Adds Ex-Jenner & Block Life Sciences Duo

    Global intellectual property law firm Fish & Richardson PC announced on Wednesday that two Chicago-based litigators from Jenner & Block LLP have joined the firm's life sciences team as partners.

  • February 28, 2024

    AdaptHealth, Ex-CEO Cut $51M Deal To End Investor Fight

    AdaptHealth and its former CEO have agreed to pay $51 million to resolve a shareholder suit alleging the medical equipment company misled investors by retroactively inflating growth numbers ahead of a merger with special acquisition firm DFB Healthcare Acquisitions Corp., according to court documents filed in Pennsylvania federal court Tuesday.

Expert Analysis

  • ABA's Money-Laundering Resolution Is A Balancing Act

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    While the American Bar Association’s recently passed resolution recognizes a lawyer's duty to discontinue representation that could facilitate money laundering and other fraudulent activity, it preserves, at least for now, the delicate balance of judicial, state-based regulation of the legal profession and the sanctity of the attorney-client relationship, say attorneys at Ballard Spahr.

  • FTC Settlements Widen Efforts To Shield Health Data

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    The Federal Trade Commission's recent enforcement actions aim to send a clear message that companies using tracking technologies should carefully monitor the sharing of sensitive data, particularly in the mental health, substance use disorder treatment and reproductive health care fields, say attorneys at Choate.

  • Law Firm Professional Development Steps To Thrive In AI Era

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    As generative artificial intelligence tools rapidly evolve, professional development leaders are instrumental in preparing law firms for the paradigm shifts ahead, and should consider three strategies to help empower legal talent with the skills required to succeed in an increasingly complex technological landscape, say Steve Gluckman and Anusia Gillespie at SkillBurst Interactive.

  • HHS Neuromonitoring Advisory May Have Broad Relevance

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    The Health Department Office of Inspector General's recent advisory opinion rejecting a neuromonitoring service's proposal for a shell arrangement isn't surprising, but it could be a harbinger of more warnings against problematic joint venture arrangements to come, says Mary Kohler at Kohler Health Law.

  • Merger Proposals Reflect Agency Leaders' Antitrust Principles

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    Attorneys at Covington trace the recently proposed Hart-Scott-Rodino and merger guidelines changes to certain foundational concerns of the Federal Trade Commission and U.S. Department of Justice Antitrust Division leadership, including issues related to concentration associated with horizontal and vertical mergers.

  • The Basics Of Being A Knowledge Management Attorney

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    Michael Lehet at Ogletree Deakins discusses the role of knowledge management attorneys at law firms, the common tasks they perform and practical tips for lawyers who may be considering becoming one.

  • Challenging Standing In Antitrust Classes: The Uninjured

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    In virtually every antitrust class action, parties at the certification phase disagree about whether the proposed class includes uninjured members, but the goals of Rule 23 and judicial economy are best served by synthesizing two distinct approaches circuit courts take on this issue, say Michael Hamburger and Holly Tao at White & Case.

  • What Big Tobacco's Cannabis Investments Mean For Market

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    The tobacco industry appears to be shoring up investments in the cannabis market, most recently with Philip Morris’ purchase of an Israeli cannabis tech company, pointing to a bright future for vaped and noncombustible products, and signaling that marijuana rescheduling may be on the horizon, say Slates Veazey and Whitt Steineker at Bradley Arant.

  • To Hire And Keep Top Talent, Think Beyond Compensation

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    Firms seeking to appeal to sophisticated clients and top-level partners should promote mentorship, ensure that attorneys from diverse backgrounds feel valued, and clarify policies about at-home work, says Patrick Moya at Quaero Group.

  • How Merger Review Overhaul Could Affect Health Industry

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    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.

  • More States Should Join Effort To Close Legal Services Gap

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    Colorado is the most recent state to allow other types of legal providers, not just attorneys, to offer specific services in certain circumstances — 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.

  • Identifying Trends And Tips In Litigation Financing Disclosure

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    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.

  • Bid Protest Spotlight: Personnel Loss, Conflicts, Timeliness

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    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.