Pharmaceutical drug development is expensive. One recent study estimates that the median cost to develop a new drug is $985 million, while the average is $1.3 billion. And those figures appear to be on the low end of a broad range. Others have estimated the average cost at approximately $2.5 to $3 billion, with costs increasing annually at a post-inflation rate of approximately 8.5%.
Recently recognized as “One to Watch” in Best Lawyers in America, Russell’s practice focuses on international arbitration, as well as a broad range of other commercial litigation matters. He has successfully represented some of the world’s most successful and sophisticated entities and individuals before arbitral tribunals and in state and federal trial and appellate courts.
Most recently, Russell helped secure a favorable settlement on behalf of an alternative investment firm alleging breach of contract and other claims against a multinational pharmaceutical company following a two-week arbitral merits hearing featuring 20 witnesses.
Additionally, Russell maintains an active pro bono practice. He is a two-time recipient of the firm’s Golden Gavel award for excellence in pro bono work.
Prior to joining Proskauer, Russell served as a law clerk to the Honorable George B. Daniels at the U.S. District Court for the Southern District of New York and, before that, to the Honorable Robin S. Rosenbaum at the U.S. Court of Appeals for the Eleventh Circuit.
Russell’s scholarship has appeared in the Harvard Journal of Sports & Entertainment Law and the Duke Journal of Constitutional Law and Public Policy Sidebar, and has been cited in the Harvard Law Review and in an amicus curiae brief filed with the Supreme Court of the United States, among other places.
Before law school, Russell worked for several years as a management consultant. He currently resides in New York City with his wife, Eriko, and their toddler daughter, with whom he enjoys exploring the city’s many parks and playgrounds.