Showing posts with label Raplon Schering Organon criminal inquiry due diligence acquisition February 12 2008. Show all posts
Showing posts with label Raplon Schering Organon criminal inquiry due diligence acquisition February 12 2008. Show all posts

Wednesday, April 16, 2008

Raplon -- Not Discoverable on Diligence, by Schering-Plough(?). . . .


One note, though -- because the Organon Qui Tam/False Claims Act matter was so tightly-sealed, it is not likely that Schering, or its bankers -- even with pointed inquiries -- could have uncovered that this mess had become civil litigation, and a criminal inquiry, prior to acquiring the Organon businesses. Remember, now, the case was not ordered unsealed until February 2008.

Just for what it's worth. . . .

However. . . . it remains an entirely open question as to whether the 1999 to 2002 Raplon documents -- the FDA submissions, and the related back-up files, for example -- still remained in the permanent file archives at Organon. It would have been customary to have a junior associate (for Schering) walk through each material FDA approval file-jacket, inside Organon's HQ, prior to paying $14.4 billion for it.

The interesting question will be "How much of what Dr. Feldstein alleges was there. . . is still there?"

We will learn, in the coming months, I suspect.