Line-up of top firms advise on $5.1bn GSK pharma acquisition
Hogan Lovells and Slaughters among firms on purchase of cancer drugmaker
December 04, 2018 at 12:00 AM
3 minute read
The original version of this story was published on The American Lawyer
Ropes & Gray, Hogan Lovells and Shearman & Sterling have taken the lead roles on a $5.1bn deal that has seen GlaxoSmithKline (GSK) acquire US biopharmaceutical firm TESARO.
The deal is expected to strengthen GSK's presence in cancer treatment and the treatment of tumours – an area in which TESARO is a pioneer. One of TESARO's trademark products is the drug Zejula, which is approved for use in the US and Europe and has revolutionised the treatment of ovarian cancer.
In a statement, TESARO described the drug as a treatment for adult patients with recurrent ovarian cancer who are undergoing chemotherapy, and described a potential expanded use for the drug, noting that clinical trials are underway.
Leading the charge on the deal for Ropes were securities and public company partners Christopher Comeau and Paul Kinsella, life sciences partner Al Cacozza, healthcare partner Eve Brunts, litigation and enforcement partners Peter Welsh and Ama Adams, and lawyers in several other practice areas including tax, benefits and antitrust law.
Hogan Lovells partners Asher Rubin and William Intner and senior associate Nick Hoover also advised TESARO.
GSK took legal advice from a large team of Shearman lawyers, including M&A partners George Casey and George Karafotias, intellectual property (IP) transactional lawyer Jordan Altman, antitrust lawyer Jessica Delbaum, and compensation, governance and ERISA lawyer Doreen Lilienfeld.
Slaughter and May advised on the acquisition facility, while Willkie Farr & Gallagher represented Centerview Partners, one of TESARO's financial advisers.
The high-profile TESARO-GSK deal is the latest high-profile transaction for Ropes. In September, the firm said it was advising Shangai-based biopharma firm Zai Lab in a joint venture for the commercialisation of Novocure's oncology assets. And in October, it said it was advising Bain Capital in a $350m venture with Pfizer to form Cerevel Therapeutics.
As the demand for expert counsel in the life sciences space has grown, Ropes & Gray has added bench strength, notably with the hire of partner Eric Wu from Johnson & Johnson in 2018 and the recruitment of counsel Beth Weinman from the chief counsel office of the Food and Drug Administration in October 2018. Earlier this year, the firm added Filko Prugo as partner and chair of the firm's life sciences IP litigation practice, and Charlotte Jacobson as a litigation partner.
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