Cravath’s New York Office Moves to Two Manhattan West
Alexander Gerten focuses his practice on financial restructuring and reorganization matters, including debtor and creditor representations, related financings and distressed M&A.
Mr. Gerten was born in Saint Paul, Minnesota. He received a B.S. with distinction from the University of Wisconsin in 2012 and a J.D. from Columbia in 2016, where he was a Harlan Fiske Stone Scholar.
Mr. Gerten joined Cravath in 2016 and departed in 2021. He rejoined Cravath in 2022 and was elected of counsel in 2024.
Mr. Gerten was born in Saint Paul, Minnesota. He received a B.S. with distinction from the University of Wisconsin in 2012 and a J.D. from Columbia in 2016, where he was a Harlan Fiske Stone Scholar.
Mr. Gerten joined Cravath in 2016 and departed in 2021. He rejoined Cravath in 2022 and was elected of counsel in 2024.
Deals & Cases
February 28, 2024
On February 28, 2024, Viatris Inc. (“Viatris”), a global healthcare company, and Idorsia Ltd (“Idorsia”) announced they have entered into agreements for a significant global research and development collaboration under which Viatris will receive exclusive global development and commercialization rights to two Phase 3 assets as well as the potential to add additional innovative assets in the future.
Deals & Cases
August 15, 2023
On August 14, 2023, DRI Healthcare Trust, a global leader in providing financing to advance innovation in the life sciences industry, managed by DRI Capital Inc., announced that it has purchased a second royalty interest in the worldwide net sales of ORSERDU®, the first approved targeted therapy used in the treatment of postmenopausal women or adult men with advanced or metastatic breast cancer who have experienced disease progression despite prior endocrine therapy. DRI Healthcare entered into a purchase agreement with Radius Pharmaceuticals, Inc., a wholly owned subsidiary of Radius Health, Inc. for an upfront purchase price of $130 million. In addition to running royalties, DRI Healthcare is also entitled to receive milestone payments of up to $40 million on the achievement of sales performance thresholds. Cravath represented DRI Capital Inc. in connection with the transaction.
Deals & Cases
June 30, 2023
On June 30, 2023, DRI Healthcare Trust, a global leader in providing financing to advance innovation in the life sciences industry, managed by DRI Capital Inc., announced that it has purchased a royalty interest in the worldwide net sales of Orserdu™, the first approved targeted therapy used in the treatment of postmenopausal women or adult men with advanced or metastatic breast cancer who have experienced disease progression despite prior endocrine therapy, from Eisai Co., Ltd. for $85 million. In addition to the running royalties, DRI Healthcare Trust is also entitled to receive milestones based on the achievement of regulatory and sales performance thresholds. Cravath represented DRI Capital Inc. in connection with the transaction.
Deals & Cases
April 27, 2023
On April 27, 2023, Jefferies Financial Group, Inc. (“Jefferies”) and Sumitomo Mitsui Banking Corporation (“SMBC”) announced that they have expanded their strategic alliance to collaborate on future corporate and investment banking business opportunities, as well as in equity sales, trading, and research. The expanded alliance also includes joint coverage of designated investment grade clients that have banking relationships with SMBC and will now have dedicated Jefferies investment banking coverage. SMBC will be responsible for credit products and debt capital markets, while Jefferies will be responsible for M&A and equity capital markets. Additionally, SMBC intends to increase its economic ownership of Jefferies to up to 15% on an as converted and fully diluted basis and upon the investment reaching or passing 10%, SMBC will be entitled to designate a new member to Jefferies’ Board of Directors. Cravath is representing Jefferies in connection with the transaction.
Deals & Cases
February 06, 2023
On February 6, 2023, RedHill Biopharma Ltd. (“RedHill”), a specialty biopharmaceutical company, announced the extinguishment of all RedHill’s debt obligations (including all principal, interest, revenue interest, prepayment premiums and exit fees) under the Credit Agreement between RedHill’s U.S. subsidiary RedHill Biopharma Inc. and HealthCare Royalty (“HCR”) dated February 23, 2020 (as amended) in exchange for the transfer of its rights in Movantik® (naloxegol) to Movantik Acquisition Co., an affiliate of HCR. Cravath is representing RedHill in connection with the transaction.
Firm News
June 28, 2024
Cravath has elected the following new partner, who will become a member of the Firm on July 1, 2024:
Alexander Gerten focuses his practice on financial restructuring and reorganization matters, including debtor and creditor representations, related financings and distressed M&A.
Mr. Gerten was born in Saint Paul, Minnesota. He received a B.S. with distinction from the University of Wisconsin in 2012 and a J.D. from Columbia in 2016, where he was a Harlan Fiske Stone Scholar.
Mr. Gerten joined Cravath in 2016 and departed in 2021. He rejoined Cravath in 2022 and was elected of counsel in 2024.
Mr. Gerten was born in Saint Paul, Minnesota. He received a B.S. with distinction from the University of Wisconsin in 2012 and a J.D. from Columbia in 2016, where he was a Harlan Fiske Stone Scholar.
Mr. Gerten joined Cravath in 2016 and departed in 2021. He rejoined Cravath in 2022 and was elected of counsel in 2024.
Deals & Cases
February 28, 2024
On February 28, 2024, Viatris Inc. (“Viatris”), a global healthcare company, and Idorsia Ltd (“Idorsia”) announced they have entered into agreements for a significant global research and development collaboration under which Viatris will receive exclusive global development and commercialization rights to two Phase 3 assets as well as the potential to add additional innovative assets in the future.
Deals & Cases
August 15, 2023
On August 14, 2023, DRI Healthcare Trust, a global leader in providing financing to advance innovation in the life sciences industry, managed by DRI Capital Inc., announced that it has purchased a second royalty interest in the worldwide net sales of ORSERDU®, the first approved targeted therapy used in the treatment of postmenopausal women or adult men with advanced or metastatic breast cancer who have experienced disease progression despite prior endocrine therapy. DRI Healthcare entered into a purchase agreement with Radius Pharmaceuticals, Inc., a wholly owned subsidiary of Radius Health, Inc. for an upfront purchase price of $130 million. In addition to running royalties, DRI Healthcare is also entitled to receive milestone payments of up to $40 million on the achievement of sales performance thresholds. Cravath represented DRI Capital Inc. in connection with the transaction.
Deals & Cases
June 30, 2023
On June 30, 2023, DRI Healthcare Trust, a global leader in providing financing to advance innovation in the life sciences industry, managed by DRI Capital Inc., announced that it has purchased a royalty interest in the worldwide net sales of Orserdu™, the first approved targeted therapy used in the treatment of postmenopausal women or adult men with advanced or metastatic breast cancer who have experienced disease progression despite prior endocrine therapy, from Eisai Co., Ltd. for $85 million. In addition to the running royalties, DRI Healthcare Trust is also entitled to receive milestones based on the achievement of regulatory and sales performance thresholds. Cravath represented DRI Capital Inc. in connection with the transaction.
Deals & Cases
April 27, 2023
On April 27, 2023, Jefferies Financial Group, Inc. (“Jefferies”) and Sumitomo Mitsui Banking Corporation (“SMBC”) announced that they have expanded their strategic alliance to collaborate on future corporate and investment banking business opportunities, as well as in equity sales, trading, and research. The expanded alliance also includes joint coverage of designated investment grade clients that have banking relationships with SMBC and will now have dedicated Jefferies investment banking coverage. SMBC will be responsible for credit products and debt capital markets, while Jefferies will be responsible for M&A and equity capital markets. Additionally, SMBC intends to increase its economic ownership of Jefferies to up to 15% on an as converted and fully diluted basis and upon the investment reaching or passing 10%, SMBC will be entitled to designate a new member to Jefferies’ Board of Directors. Cravath is representing Jefferies in connection with the transaction.
Deals & Cases
February 06, 2023
On February 6, 2023, RedHill Biopharma Ltd. (“RedHill”), a specialty biopharmaceutical company, announced the extinguishment of all RedHill’s debt obligations (including all principal, interest, revenue interest, prepayment premiums and exit fees) under the Credit Agreement between RedHill’s U.S. subsidiary RedHill Biopharma Inc. and HealthCare Royalty (“HCR”) dated February 23, 2020 (as amended) in exchange for the transfer of its rights in Movantik® (naloxegol) to Movantik Acquisition Co., an affiliate of HCR. Cravath is representing RedHill in connection with the transaction.
Firm News
June 28, 2024
Cravath has elected the following new partner, who will become a member of the Firm on July 1, 2024:
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