In a significant move within Boston’s legal sector, two prominent life sciences partners from Foley Hoag have transitioned to Hogan Lovells. Brian Carey, who has served as a long-time partner and co-chair of Foley Hoag’s life sciences coverage and payment group, and Erik Schulwolf, have joined Hogan Lovells, marking the latest development in an ongoing trend of outside firms targeting Boston-based legal talents.
The strategic shift underscores the increasing specialization and collaboration between legal professionals at the forefront of the med-tech industry. Carey highlighted the seamless nature of this transition, noting a longstanding working relationship where Hogan Lovells and Foley Hoag had previously co-counseled for various projects over the past two decades. “Hogan would represent a company on A, B, and C, and I would do D, E, and F. We’ve become so specialized in each area we’re in that it made sense to collaborate at the same firm,” Carey explained.
Ron Wisor, who leads Hogan Lovells’ health practice, lauded the addition of Carey and Schulwolf, emphasizing the firm’s broader goal of bolstering their health practice in the strategically vital Boston market. This hire is part of a broader trend observed in the first half of the year where firms originating outside of the city, such as Paul Hastings, Blank Rome, and Hogan Lovells, aggressively pursued local partners specializing in life sciences transactions. For more detailed information, see the full article here.
Notably, the competition in Boston has become increasingly fierce, driving partner compensation to the $5-$10 million range. This has been particularly challenging for locally established firms like Burns & Levinson, which suffered significant losses to competitors like Blank Rome and ArentFox Schiff earlier this year. Recruitment expert Robert Zinn of Major Lindsey & Africa remarked on the heightened demand for expertise in life sciences transactions, calling it the dominant requirement for both new and established firms in the region.
Carey and Schulwolf’s expertise will be invaluable as Hogan Lovells prepares to navigate upcoming regulatory changes. Federal regulations proposed by the Food and Drug Administration for laboratory-developed tests are anticipated to significantly impact diagnostic labs and test makers, a sector traditionally unregulated. Janice Hogan, practice group leader for Hogan Lovells’ global regulatory and IP media, and technology group, pointed out the importance of these upcoming changes, reinforcing the strategic relevance of Carey and Schulwolf’s roles.
For further context and additional updates, readers can visit the article on Bloomberg Law here.