Ocular Sciences v. Bausch & Lomb
This article was originally published in The Gray Sheet
Executive Summary
Lawsuit filed in California state court seeks injunctive relief, compensatory and punitive damages from Bausch & Lomb for tortious interference with the March 20 definitive merger agreement between Ocular and Wesley Jessen. The suit is the latest salvo in a tug of war for Wesley Jessen. B&L launched a hostile $34-per-share takeover bid for Wesley Jessen April 3 and filed a lawsuit against Wesley Jessen and Ocular seeking injunctive relief against the merger in the Court of Chancery of Delaware (1"The Gray Sheet" April 10, In Brief)
You may also be interested in...
Bausch & Lomb
Firm commences hostile takeover bid for tinted contact lens maker Wesley Jessen April 3 via $34-per-share tender offer (1"The Gray Sheet" April 3, In Brief). Separately, B&L filed a lawsuit in the Court of Chancery of Delaware against Wesley Jessen and Ocular Sciences seeking "injunctive relief" against the Wesley Jessen/Ocular Sciences merger agreement of March 20, redemption of Wesley Jessen's "poison pill" anti-takeover provisions and "a declaration that any breakup fee Ocular receives it holds as a constructive trustee," B&L states
New EU Filings
Obecabtagene autoleucel, Autolus Therapeutics’s investigational treatment for relapsed or refractory B cell precursor acute lymphoblastic leukemia, is among the latest products that have been filed for review by the European Medicines Agency for potential EU marketing approval.
P&G Restores Volume Growth In Beauty, Grooming After Pricing Run
Procter & Gamble reports strong consumer spending in the US and Europe after a 3% increase in product pricing over the past year. Dragging on fiscal third-quarter results, sales of SK-II in China fell 30% for the January-March period, while lower incidence of cough and cold impacted Health Care performance.