Wednesday, September 30, 2009

Boston Scientific will pay $716.3M to J&J in settlement over 14 patent lawsuits

"Boston Scientific Corp. said Tuesday it will pay Johnson&Johnson US$716.3 million to settle 14 patent infringement lawsuits related to the use of stents in treating heart disease. Boston Scientific, of Natick, Mass., will pay Johnson&Johnson's subsidiary Cordis Corp. on Thursday, using cash from a legal reserve. New Brunswick, N.J.-based Johnson&Johnson will record most of the payment as a special item in the fourth quarter. Stents are mesh metal tubes used to prop open arteries after the vessels have been cleared of fatty plaque. Some of the lawsuits being settled are related to Boston Scientific's NIR stent delivery system" - CP

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