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Wake Up Call: Paul Weiss, Kirkland Advise on GE’s $21.4B Sale of BioPharma Unit

Feb. 26, 2019, 12:28 PM
  • General Electric, advised by Paul Weiss, agreed to a $21.4 billion sale of its biopharmaceutical unit to Danaher Corporation, whose former CEO, Larry Culp, recently took over as head of GE. The sale of the unit, which provides tools for medical research and the development of advanced therapies, will allow GE to reduce its debt, Culp said. Kirkland & Ellis advised Danaher, according to a report. ( (Financial Times) (BN)

  • Tesla CEO Elon Musk is back in hot water with the Securities and Exchange Commission over his tweets about the electric car company. On Monday the SEC asked a judge to hold Musk in contempt for violating a settlement that required him to get Tesla approval for social media posts and other writings that could be material to investors. Last week, the company lost its top lawyer, Dane Butswinkas, whose job was representing Musk in his legal battles with the SEC. (BN)

  • Close to nine years after the merger of Washington, D.C.-based Hogan & Hartson with London-based Lovells, transatlantic firm Hogan Lovells posted 2018 global revenues up 4 percent, to $2.119 billion, with profits per equity partner 7.6 percent higher than 2017’s, at $1.38 million. (American Lawyer)

  • Baker & Hostetler’s gross revenue grew 3.1 percent in 2018, to just over $667 million, and profits per equity partner rose 3.5 percent to $1.035 million. Chairman Paul Schmidt said the Cleveland-based firm had a “year of growth and investment.” Head count grew nearly 4 percent, to 941 attorneys, and the firm added 27 laterals. (American Lawyer)

  • Texas-based Bracewell’s 7.6 percent growth in gross revenues in 2018, to $300 million, was powered mainly by its energy, infrastructure, and finance practices, with technology, litigation, and regulatory also doing “very well.” The firm’s PEP surged 11.3 percent, to $1.45 million. (Texas Lawyer)

  • Roche Holding AG, advised by Davis Polk & Wardwell, agreed to buy Philadelphia-based gene therapy company Spark Therapeutics for $4.8 billion. Goodwin advised Spark. (BN)

  • Goodwin also advised French biopharmaceutical maker Ipsen SA, which yesterday said it will buy rare bone disease specialist Clementia Pharmaceuticals Inc., based in Montreal, for up to $1.31 billion. Canada- and New York-based firm Davies Ward Phillips & Vineberg also advised Ipsen. Skadden and Stikeman Elliott LLP are advising Clementia. (S&P Global)

Lawyers, Law Firms, Deals

  • Locke Lord launched its “NextGen” series of weekly Q&A profiles aimed at illustrating the wide range of backgrounds, viewpoints, and practices of its young partners. (

  • McGuireWoods said a pro bono team of its lawyers, paralegals, and translators spent a week at a South Texas federal detention center to help refugee children and their mothers to advance their asylum claims. (

Laterals, Moves, Promotions

  • Florida-based Holland & Knight hired Jones Day banking and finance partner Loren Weil for its Chicago office as a partner in the firm’s financial services practice group. According to his LinkedIn profile, Weil also spent nearly 26 years at Winston & Strawn. (

  • Crowell & Moring hired three new lateral partners from Squire Patton Boggs in London. (BLAW via BLB)

  • Litigation finance firm Vannin Capital announced that former Allen & Overy litigator Rosie Ioannou, who joined Vannin in 2014 as managing director, was appointed as U.K. regional managing director, based in London. (

  • Eversheds Sutherland said litigator Ian Shelton joined the firm’s Austin office as counsel in its litigation practice group. Focused on intellectual property and technology, complex commercial litigation, and appeals, he joins from Quinn Emanuel Urquhart & Sulllivan. (

  • Hogan Lovells grabbed a two-lawyer team of life sciences IP attorneys from Venable. It said litigators Simon Roberts and Jason Leonard, who had both previously been at Fitzpatrick, Cella, Harper & Scinto, joined Hogan Lovells’ New York office as partners in the intellectual property, media and technology practice. (

  • Philadelphia-based Morgan Lewis expanded on the West Coast by poaching Fox Rothschild employee benefits partner Michelle McCarthy for its L.A. office. (

  • JAMS, the alternative dispute resolution services provider, said 40-year veteran attorney, mediator, and arbitrator Barbara Spector joined its panel in Silicon Valley. Spector was most recently San Francisco-based of counsel at Hoge Fenton Jones & Appel. (

  • Weil, Gotshal & Manges got Skadden’s real estate capital markets practice head, Evan Levy, for its New York City office. Levy leaves Skadden after 21 years. (American Lawyer)

Legal Actions, Bankruptcies, Decisions

  • The U.S. Supreme Court affirmed an order throwing out Power Integrations Inc.'s $146.5 million patent infringement award against Fairchild Semiconductor International, Inc. in a decade-long dispute over power supply controller chips. The case now goes to a new trial on damages. Fish & Richardson P.C. and Latham & Watkins represented Power Integrations. Quinn Emanuel represented Fairchild Semiconductor International. (BLAW)

  • The Supreme Court declined big tobacco companies’ latest bid to get it to review decisions in favor of Florida smokers and deceased smokers’ families. (BLAW)

  • The Supreme Court rejected an effort by In-N-Out Burger Inc., advised by Littler Mendelson, to get a chance to convince the court that it should be allowed to ban workers from wearing buttons supporting a union-backed campaign for higher minimum wages and stronger workplace rights. (BLAW)

  • A federal appeals court ordered former U.S. diplomat Linda Howard to pay $3 million for her role in her husband’s sexual abuse of a housekeeper in Yemen, who was represented by Jones Day. (BLAW)

To contact the correspondent on this story: Rick Mitchell in Paris at

To contact the editors responsible for this story: Rebekah Mintzer at;
Molly Ward at

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