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JOHN HANCOCK LIFE INS. CO. v. ABBOTT LABORATORIES

No. 16-1661.

863 F.3d 23 (2017)

JOHN HANCOCK LIFE INSURANCE COMPANY et al., Plaintiffs, Appellants, v. ABBOTT LABORATORIES, Defendant, Appellee.

United States Court of Appeals, First Circuit.

July 12, 2017.

Attorney(s) appearing for the Case

Joan A. Lukey , with whom John A. Nadas , Stuart M. Glass , Kevin J. Finnerty , and Choate, Hall & Stewart LLP, Boston, MA, were on brief, for appellants.

Jeffrey I. Weinberger , with whom Gregory D. Phillips , Elizabeth A. Laughton , and Munger, Tolles & Olson LLP, Los Angeles, CA, were on brief, for appellee.

Before Howard, Chief Judge, Selya and Lynch, Circuit Judges.

The development of new drugs is a costly, time-consuming, and highly speculative enterprise. In an effort to hedge their bets, drug companies sometimes opt to share the risks and rewards of product development with outside investors. This appeal introduces us to that high-stakes world. The outcome turns primarily on a contract...

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