Number of the day - 1 bn loss

 

J&J Loses $1 Billion Court Ruling on Surgical Robot Deal 

 "A Delaware judge ruled against the pharmaceutical giant eight months after a trial of claims that it engaged in wide-ranging breaches of its agreement with former Auris shareholders by failing to pursue regulatory approvals for two projects with blockbuster potential, the iPlatform and the Monarch.  More than $2 billion in additional payments hinged on the approvals. The allegations echoed a recurring theme in Delaware’s Chancery Court, the leading US forum for M&A fights, where it’s common for lawsuits to assert that corporate acquirers are trying to wriggle out of post-deal payments."