Deals & Corporate Governance
-
August 16, 2024
States Get Teva Generic Price-Fix Case On Docket As 1st Trial
A Connecticut federal judge has granted a request from a coalition of state attorneys general suing a slew of generic-drug makers to try a case focused on Teva before proceeding with a different case that was first filed.
-
August 16, 2024
5th Circ. Tosses Appeal In FTC's Anesthesia Antitrust Case
The Fifth Circuit has agreed with the Federal Trade Commission and tossed an early appeal from U.S. Anesthesia Partners in the agency's case accusing the group of monopolizing the Texas anesthesiology market through a "roll-up" strategy.
-
August 16, 2024
Avantor Sells Clinical Services Biz To PE Shop In $650M Deal
Life sciences tools company Avantor Inc., advised by Arnold & Porter Kaye Scholer LLP, on Friday announced plans to sell its clinical services business to Ropes & Gray LLP-advised Audax Private Equity for $650 million.
-
August 16, 2024
NC Litigation Highlights Of 2024: A Midyear Report
Several-high profile cases in North Carolina came to a close in the first half of the year, from a second bribery conviction against an insurance magnate beset by legal woes, to the anticlimactic withdrawal of a state Supreme Court justice's much-watched free speech suit. Here, Law360 looks at those and other notable rulings so far in North Carolina.
-
August 13, 2024
Anesthesia Co. Says FTC Lacks Authority To Bring 'Rollup' Suit
U.S. Anesthesia Partners has told the Fifth Circuit the Federal Trade Commission lacks authority to bring its case directly in federal court without also filing an administrative case accusing the group of monopolizing the Texas anesthesiology market.
-
August 13, 2024
Takeaways From This Week's Healthcare Earnings Calls
The fourth main week of earnings reports from major healthcare companies saw names like CVS, Oscar Health and Eli Lilly release quarterly results, as earnings season for the industry winds down.
-
August 13, 2024
Biotechs Walk Tightrope On Drug Price Negotiation Messaging
Biotech companies whose products have been affected by Medicare price negotiations under the Inflation Reduction Act largely reassured investors on recent earnings calls of their success, even as they argue in court that the program could upend their businesses and the larger industry.
-
August 13, 2024
Pioneer Health Ch. 11 Plan With Future Sale Gets OK
Bankrupt clinic operator Pioneer Health Inc. received approval Tuesday from a Delaware court of its Chapter 11 plan with a post-confirmation sale set to be completed before the plan's effective date.
-
August 13, 2024
FTC Makes 2nd Request In Review Of Medical Device Co. Deal
Medical device company Surmodics Inc. disclosed Monday that federal regulators are taking a closer look at its agreement to be acquired by private equity giant GTCR in a $627 million deal.
-
August 13, 2024
Are 'Public Advantage' Laws Driving Up Healthcare Costs?
As U.S. healthcare costs continue to rise, so do concerns about laws in over a dozen states that allow monopolistic hospital consolidations to obtain antitrust immunity despite warnings from federal officials that these so-called public advantage laws actually hurt patients' pocketbooks.
-
August 13, 2024
3 Firms Drive $3.8B Carlyle-Baxter Kidney Care Deal
Kirkland & Ellis LLP-led private equity firm Carlyle on Tuesday agreed to acquire the kidney care unit of Baxter International Inc., represented by Sullivan & Cromwell LLP and Baker McKenzie, for $3.8 billion, Baxter said in a statement Tuesday.
-
August 12, 2024
States Want Teva Generic Price Fixing Case Tried 1st
A coalition of state attorneys general suing a slew of generic drugmakers are asking for a Connecticut federal court to proceed with one of the two cases before the other, saying the outcome in that case will have a "significant impact" on settlement talks with other pharmaceutical company plaintiffs.
-
August 12, 2024
States Oppose Shkreli High Court Bid For $64M Disgorgement
State enforcers are opposing a petition from ex-pharmaceutical executive Martin Shkreli asking the U.S. Supreme Court to review 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%
-
August 12, 2024
NJ Health System Wants Proskauer DQ'd From Antitrust Case
Proskauer Rose LLP is facing accusations that it should be disqualified from representing one of New Jersey's largest healthcare systems in an antitrust lawsuit brought by a competitor that was once a client of the firm.
-
August 09, 2024
DC Circ. Says Mining Cos. Can't Appeal Retiree Health Win
Four former subsidiaries of the now-defunct coal company Consol Energy Inc. can't challenge an arbitration award that banned unilateral changes to union-represented retirees' health benefits plan, the D.C. Circuit held Friday, saying the ex-subsidiaries weren't parties to the award and aren't injured by it.
-
August 09, 2024
Healthcare-Focused SPAC Voyager Nets $220M IPO
Shares of healthcare-focused Voyager Acquisition Corp. began trading publicly on Friday after the company priced its $220 million initial public offering.
-
August 09, 2024
Fannie Mae Seeks Memory Care Receiver After $28.3M Default
Fannie Mae asked a federal judge to appoint a receiver for three North Carolina senior living facilities after arguing that borrower Affinity Living Communities defaulted on $28.3 million worth of loans from the government-backed lender by missing three months of payments.
-
August 08, 2024
In Reddit Hot Seat, Chopra Touts CFPB Medical Debt Proposal
Consumer Financial Protection Bureau Director Rohit Chopra took to social media on Thursday to pitch the agency's proposed ban on medical debt reporting, defending it against concerns that the plan could interfere with credit scores and encourage people to skip out on medical bills.
-
August 08, 2024
Newmark Secures $300M For Healthcare Real Estate JV
Newmark Group Inc. has put together a joint venture between two companies and has also obtained $300 million in financing for the venture so that it can develop "purpose-built healthcare properties," the commercial real estate advisory firm announced Aug. 8.
-
August 07, 2024
Amgen Waged Lawfare To Overcharge For Drug, Suit Claims
Maryland-based independent licensees of the Blue Cross Blue Shield Association claim pharmaceutical giant Amgen Inc. and its subsidiaries have engaged in unlawful monopolistic practices that have inflated the cost of the blockbuster drug Enbrel.
-
August 07, 2024
Delta Dental Can't Get Antitrust Standard Decided Early
An Illinois federal judge denied a bid from Delta Dental to have the court decide what legal standard should apply to claims that it violated antitrust law through a $13 billion scheme to restrict competition before ruling on a class certification motion.
-
August 06, 2024
Henrietta Lacks' Family Sues Novartis, Viatris Over HeLa Cells
The family of the late Henrietta Lacks, a Black woman whose cells were harvested without her knowledge to create the first immortalized human cell line, sued Novartis and Viatris in Maryland federal court Monday, alleging the pharmaceutical giants have "reaped massive profits" using Lacks' stolen cells to create new drugs.
-
August 06, 2024
Life Sciences Credit Firm Symbiotic Launches With $600M
A new credit firm led by veterans in the healthcare industry announced its launch Tuesday, with more than $600 million in capital earmarked for loans to life sciences companies.
-
August 06, 2024
Takeaways From This Week's Healthcare Earnings Calls
The third main week of earnings calls for healthcare companies this quarter saw names like GSK, Humana and Teladoc post their financial results.
-
August 06, 2024
Pharma Co. Founder Beats Suit Over Short-Swing Trading
The founder of Y-mAbs Therapeutics Inc. beat back a suit alleging he realized more than $2.5 million in so-called short-swing profits after he exchanged his Y-mAbs stock for those of another company, with a New York federal judge saying in a ruling of first impression that the founder does not need to return the gains he received.
Expert Analysis
-
5 Trends To Watch As Value-Based Healthcare Gains Steam
Value-based care has grown and evolved as healthcare providers, payors and policymakers seek to improve patient results while containing costs, and this shift in the industry is expected to accelerate in the near future, say attorneys at Holland & Knight.
-
What's At Play In Rising Lanham Act Cases At The ITC
Amid an uptick in Lanham Act claims involving false advertising related to medical devices at the U.S. International Trade Commission, Brian Busey and Maryrose McLaughlin at MoFo discuss recent ITC complaints from Eli Lilly and R.J. Reynolds, Lanham Act claim limits under the Federal Food, Drug, and Cosmetic Act, and the issues practitioners face in this realm.
-
What Workplace Violence Law Means For Texas Healthcare
While no federal laws address violence against healthcare workers, Texas has recently enacted statutory protections that take effect later this year — so facilities in the state should understand their new obligations under the law, and employers in other states would be wise to take notice as well, say attorneys at Bradley Arant.
-
5 Models For Structuring Health Provider-Payor Partnerships
With recent data showing that the U.S. continues to spend more and get less for healthcare services compared to other industrialized nations, providers and payors should consider a variety of partnership structures that can help achieve the so-called triple aim of improving the health of individuals and populations while reducing per capita costs, says John Howard at Thompson Coburn.
-
What FTC's 'Killer Acquisition' Theory Means For Pharma Cos.
The Federal Trade Commission's recent lawsuit to block Sanofi's acquisition of a pharmaceutical treatment developed by Maze Therapeutics builds on previous enforcement actions and could indicate the agency's growing willingness to use its so-called killer acquisition theory against perceived attempts to eliminate nascent competition, say attorneys at Morgan Lewis.
-
Lessons For D&O Policyholders From Pharma Co. Ruling
A California federal court's recent decision in AmTrust v. 180 Life Sciences, requiring insurers to advance defense costs for a potentially covered claim, provides a valuable road map for directors and officers insurance policyholders, rebutting the common presumption that a D&O insurer's duty to advance costs is more limited than under other policies, say attorneys at Pasich.
-
ESG Around The World: Gulf Cooperation Council
The Gulf Cooperation Council is in the early stages of ESG policy implementation, but recent commitments by both states and corporations — including increases in sustainable finance transactions, environmental commitments, female representation on boards and human rights enforcement — show continuing progress toward broader ESG goals, say attorneys at Cleary.
-
Oregon Law Would Compromise Management Service Orgs
If passed, a proposed Oregon law would materially limit physician corporate practice of medicine structures, causing significant disruption to the provision of medicine and hindering professional corporations' ability to focus on the clinical components of their practice, say Christina Bergeron and William Shefelman at Ropes & Gray.
-
The Latest Antitrust Areas For In-House Counsel To Watch
The U.S. Department of Justice and the Federal Trade Commission's increasingly aggressive approach to antitrust enforcement means in-house counsel should closely monitor five key compliance issues, say attorneys at Squire Patton.
-
Navigating New Regulations In Healthcare And Other M&A
While notice requirements recently enacted in several states are focused on the healthcare industry for now, this trend could extend to other industries as these requirements are designed to allow regulators to be a step ahead and learn more about a transaction long before it occurs, say Kathleen Premo and Ashley Creech at Epstein Becker.
-
New CMS Rule Will Change Nursing Facility Disclosures
A new rule from the Centers for Medicare & Medicaid Services significantly expands disclosure requirements for nursing facilities backed by private equity companies or real estate investment trusts, likely foreshadowing increased oversight that could include more targeted audits, say Janice Davis and Christopher Ronne at Morgan Lewis.
-
Healthcare Collabs Can Alleviate Labor, Antitrust Challenges
Two major challenges facing hospitals and health systems include labor shortages and increased antitrust scrutiny at both federal and state levels, but collaborative efforts may help with addressing these difficulties, says Sumaya Noush at McDermott.
-
How Biotech Cos. Can Utilize Synthetic Royalty Financing
Synthetic royalty transactions have been on the rise as a funding structure for biotechnology companies, but questions have arisen surrounding how such transactions work, and structuring them correctly requires a nuanced understanding, say Todd Trattner and Ryan Murr at Gibson Dunn.