J&J/Boston Sci battle persists
This article was originally published in The Gray Sheet
Executive Summary
A federal judge allows Johnson & Johnson to pursue a breach of contract claim against Boston Scientific alleging Guidant violated its 2004 merger deal with J&J when its shareholders decided to be acquired by Boston Scientific instead. In an Aug. 29 1ruling, Southern District of New York Judge Gerard Lynch denied Boston Scientific/Guidant's motion to dismiss the breach of contract claims initiated in October 2006 by J&J as part of a $5.5 billion suit. However, he did dismiss J&J's claims that Boston Scientific improperly interfered with J&J's efforts to buy Guidant and that Guidant breached its "implied duty of good faith and fair dealing" when it decided to accept Boston Scientific's merger offer (2"The Gray Sheet' Oct. 2, 2006, p. 6). The judge also dismissed all of J&J's claims against Abbott Laboratories, whose acquisition of Guidant's stent business helped fund Boston Scientific's Guidant purchase and made it easier for antitrust regulators to clear the deal...
You may also be interested in...
Japan Grants Global-First Approval To Zolbetuximab, 15 Other New Drugs
Astellas's first-in class CLDN18.2-targeting antibody receives its first approval worldwide, while crovalimab and a number of drugs for rare diseases also receive nods from regulators and are now awaiting reimbursement price-listing.
Hanmi-OCI Merger Hits Wall As Brothers Win Shareholder Vote, Board Seats
The planned merger of Korea's Hanmi Pharm Group with OCI Group hits a major speed bump as the two sons of Hanmi's founder and other candidates recommended by them secture board seats. But it remains to be seen how the Lim brothers will fulfil their ambitious promises.
Beauty Firms Using AI-Based Tools Could Be Subject To Health Privacy Laws In US States
Using AI-based programs to collect and store consumer information risks running afoul of new health privacy laws cropping up in US states. Lack of federal regulation or guidance on the issue is one of the biggest challenges for beauty firms deploying AI, according to Stacy Marcus, partner at Reed Smith LLP.