Research and development (R&D) collaborations present a win-win opportunity for big pharma and their biotech partners. Pharma companies can use collaborations to  supplement their R&D pipelines without the large cash outlays necessitated by acquisitions. By spreading available cash across multiple collaborations, they increase their “shots on goal” of finding the next blockbuster drug/therapy. Similarly, collaborations are attractive to smaller specialty pharma and biotech companies looking to partner certain noncore assets as a source of nondilutive financing or to accelerate life-saving...

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On August 29, 2023, the California Privacy Protection Agency (CPPA) posted discussion drafts of its forthcoming regulations on cybersecurity audits and risk assessments as part of the materials for its September 8, 2023, public board meeting. These draft regulations are expected to eventually become part of the CPPA’s second rulemaking package under the California Consumer Privacy Act (CCPA) since the CCPA’s amendment by the California Privacy Rights Act. The CPPA has not yet started its formal rulemaking process for...

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With the help of our members, this thought-leadership series explores the acceleration of “digitalization” on both sides of the Atlantic, and across various industries. Today, we present, Ana Razmazma, Counsel, at FENWICK & WEST in Silicon Valley, CA; along with Katie Hewson, Partner, and Daniel Jones, Associate both at STEPHENSON HARWOOD in London, UK. They will address: “AI Regulation – Latest Legal Developments in Europe and the US”.  Navigating the Landscape of AI Regulation on Both Sides of the Pond:...

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On June 26, 2023, the International Sustainability Standards Board (ISSB) published its first two sustainability disclosure standards, International Financial Reporting Standards (IFRS S1) – General Requirement for Disclosure of Sustainability-related Financial Information, and (IFRS S2) – Climate-related Disclosures. Access to the two new standards is free, although users are required to create an account to download them. These standards create a global baseline for sustainability-related financial reporting and climate-related disclosures.1 On July 10, 2023, the IFRS Foundation announced that it...

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On August 25, the National Labor Relations Board’s (NLRB) majority issued a historic decision in Cemex Construction Materials Pacific, LLC, 372 NLRB No. 130, on when an employer must recognize and bargain with a union. This decision is a modified version of the long ago abandoned 1949 Joy Silk doctrine, which required an employer to recognize and bargain with a union if there was evidence a majority of employees wanted the union to represent them, unless the employer had good faith doubt...

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At the start of 2023, the vast majority of financial institutions adopted CECL (Current Expected Credit Loss). The impact of adoption varied for institutions based on asset size as well as the makeup of the loan portfolio. Although there are conclusions you can reach by evaluating the data, it cannot be understated that these two factors have a significant impact on the ultimate allowance level an institution recorded. The following data was generated using call report data from banks...

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On Aug. 18, 2023, the U.S. Department of Commerce (Commerce) announced its final determinations regarding the circumvention inquiries of the antidumping (AD) and countervailing duty (CVD) orders on solar cells and modules from the People’s Republic of China (China). As a result of Commerce’s “country-wide” circumvention findings as relates to Cambodia, Malaysia, Thailand, and Vietnam, solar cells and modules imported to the United States from those four countries will be subject to AD/CVD duties as of June 6, 2024, after...

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The Partners of Arendt are delighted to announce that Stefan Staedter has been appointed the new Head of the New York office, effective 1 September 2023. Stefan Staedter will strengthen services to our clients in New York and North America. He will also promote Arendt’s entire value chain, which encompasses the Luxembourg Legal & Tax, Regulatory & Consulting and Investor Services aspects. Stefan will be responsible for overseeing all operations with the six-member team who work on site in New York. About...

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Sika’s innovative reCO2ver® technology is now receiving targeted support as part of a climate protection program. The technology involves a novel concrete recycling process that allows old concrete to be entirely reused while facilitating the sequestration of CO2. To support the use of the technology, Switzerland’s Climate Cent Foundation is guaranteeing the purchase of CO2 certificates from the program for an initial amount of CHF 10 million. Almost 40% of global CO2 emissions are attributable to the construction and building sector. Around 30...

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