client
Client
Publicly Traded Pharmaceutical Company
Initiative
Corporate Restructuring
Situation
When a publicly traded pharmaceutical company shifted its focus from developing treatments for a wide range of chronic diseases to concentrating on a smaller core suite of products, it engaged RGP Legal to help with the transition.
How We Helped
The company’s new direction necessitated significant changes in its senior management team as well as its business plan, including stopping research, development and marketing for a commercial drug and divesting a national sales and distribution business.
The Client previously used costlier outside counsel to handle all of its legal needs but recognized that a seasoned and experienced in-house business lawyer could perform many functions effectively and efficiently. They chose RGP Legal.
We provided significant experience in M&A, corporate restructurings and business turnarounds, including divesting assets and downsizing companies.
The work we did for the Client included:
- Assisting outside counsel in selling one of the company's commercialized drug products and its related national sales force
- Providing assistance in subleasing the company's R&D facilities
- Resolving various vendor and supplier disputes and collection matters
- Resolving royalty and other disputes under license and supply agreements
- Contracting with Clinical Research Organizations and other research related vendors.
Outcome
RGP helped the Client achieve significant savings, exceeding six figures, by seconding quality legal talent versus utilizing traditional outside counsel.