Legal News

The Italian pharmaceutical company Angelini Pharma announced on January 4, 2021, that it will acquire emerging Swiss biotech company Arvelle Therapeutics for a total aggregate valuation of up to $960 million. Angelini Pharma will pay Arvelle Therapeutics $610 million following the European Medicines Agency’s (“EMA”) approval of the epilepsy drug cenobamate, sold under the brand name Xcopri®. Arvelle will also receive another $350 million if cenobamate reaches certain revenue targets....By: Ro...

Cadent Therapeutics, a Cambridge, Massachusetts-based, privately held clinical stage biopharmaceutical company focused on the development of therapies for the treatment of cognitive, mood, and movement disorders, announced on December 17, 2020, that Novartis will acquire all of the outstanding capital stock of Cadent Therapeutics....By: Rothwell, Figg, Ernst & Manbeck, P.C.

AstraZeneca, the British-Swedish multinational pharmaceutical company currently collaborating with the University of Oxford on a COVID-19 vaccine, will purchase Alexion Pharmaceuticals for $39 billion. The transaction, which awaits approval by shareholders and regulators, is the largest purchase by a health care company this year and is expected to close in the third quarter of 2021. Alexion was founded in 1992 and is headquartered in Boston but has a global presence. It is known for its...By: ...

Hyundai is reportedly in the process of purchasing a large controlling interest in robot innovator Boston Dynamics from SoftBank in a deal valued at $1.1 billion. The transaction, under which Hyundai will reportedly obtain an 80% stake with SoftBank retaining around 20% through an affiliate, is expected to close by June of 2021, subject to regulatory approvals and other conditions......By: Rothwell, Figg, Ernst & Manbeck, P.C.

In 2018, this Blog published “Challenge to Montauk’s Motel Restaurant Fails at Supreme Court Level” discussing the Article 78 petition and plenary action entitled Jane H. Concannon Revocable Trust v. The Building Department of the Town of East Hampton, Town of East Hampton Zoning Board of Appels, and Breakers Motel, Inc., Index No. 4297/2016, dated February 5, 2018....By: Farrell Fritz, P.C.

Tonight, the Incorporated Village of Farmingdale (“Farmingdale“) will consider amending its zoning code to expand permitted uses in its Downtown Mixed-Use Zoning District (“Downtown“). The proposed amendments will allow, among other things, legal and medical offices on the ground level of buildings....By: Farrell Fritz, P.C.

Gurney’s Inn is an iconic oceanside resort located in Montauk, New York, on the eastern tip of Long Island’s South Fork affectionately known as “The End.”...By: Farrell Fritz, P.C.

Most state mortgage finance, consumer credit, collection agency, sale finance, and money service business licensing laws have a provision that dictates what needs to be done or what needs to be filed in connection with the change in control of a licensee, such as when a licensed entity is going to be acquired by a new owner, when an investor looks to acquire a licensed entity, or when the ownership of a licensee is restructured. All too often the state filing obligations that arise in connection...

The Covid-19 health crisis has sent widely-discussed shockwaves through the real estate industry that could have long-reaching impacts on the future of land use on Long Island. For starters, the pandemic shutdown hit the brick-and-mortar retail industry like a bomb....By: Farrell Fritz, P.C.

In July of 2016, Lisa and Robert Gerbino (hereinafter “Gerbinos”) made an application to the Town of East Hampton Zoning Board of Appeals (“ZBA”) for setback relief to allow an existing patio that was built without a permit to remain 10.2 feet from the southern property line where 20 feet is required at their property located at 3 Old Station Place, Amagansett....By: Farrell Fritz, P.C.