Meda AB v. 3M Company, et al.

The Firm represented 3M in trial proceedings relating to the $854 million sale of its European pharmaceutical business to Meda AB (“Meda”), a Sweden-based global pharmaceutical company.

Seeking $200 million in damages, Meda alleged that 3M failed to disclose a key provision of a document produced by France’s drug-pricing authority, resulting in an inflated valuation prior to the sale. Meda further alleged 3M failed to make certain disclosures regarding the regulatory requirements for re-pricing a cardiac drug in the French market.

Following a nine-day bench trial, the court rejected Meda’s claims and found that 3M acted appropriately in connection with the sale of the business.