Health care products maker Johnson & Johnson scored a $1.2 billion win in a patent dispute with its stent rivals Tuesday (October 01, 2008), though at least one company has vowed an appeal.
Shares of the New Brunswick, N.J.-based company rose $2.38, or 3.6 percent, to close at $69.28 Tuesday.
After the market closed, J&J, said the U.S. District Court in Delaware entered a final judgment of about $1.2 billion in favor of J&J's Cordis Corp. unit, which makes heart devices. J&J had argued that patents for stents made by the Cordis unit had been infringed by rivals Boston Scientific Corp. and Medtronic Inc.
Stents are tiny metal mesh scaffolds that prop open heart arteries following surgery to remove clogs. J&J has said juries in 2000 and again in 2005 found that bare metal stents made by Boston Scientific and Medtronic infringed on Cordis Corp.'s patent for the Palmaz stent.
Boston Scientific, which said it will appeal the decision, was ordered to pay $703 million while Medtronic was ordered to pay about $521 million
Wednesday, October 1, 2008
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2 comments:
In a case like this, I get so confused about the methology used by both parties and so, my best recommendation is to visit http://www.aminn.org/ and ask the professionals there...
If you are still confused Randall, check out this article on Industry Week talking about patent enforcement. http://www.industryweek.com/articles/patent_enforcement_21538.aspx
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