Boston Scientific Corporation and Medtronic, Inc. today announced the settlement of two lawsuits and an agreement to stand down in three others. These agreements stop all current litigation between the two parties in the fields of interventional cardiology and endovascular repair. All the disputes involved intellectual property.
“We are pleased to have reached these agreements which will allow us to focus our efforts and resources on developing new products and therapies that improve patients’ lives,” said Hank Kucheman, Senior Vice President and Group President, Cardiovascular.
The stand-down agreements are time limited and involve only Medtronic and Boston Scientific. While the terms of the settlement remain confidential, Boston Scientific said the agreements will not have a material impact on its financial results. The lawsuits are listed below.
- Medtronic Vascular, Inc., et al. v. Boston Scientific Corp., et al., No. 2:06-cv-00078TJW-CMC, pending in the U.S. District Court for the Eastern District of Texas (Settled);
- Boston Scientific Corp., et al. v. Medtronic, Inc., et al., No. 6:08-cv-320, pending in the U.S. District Court for the Eastern District of Texas (Settled);
- Medtronic Vascular, Inc., et al. v. Boston Scientific Corp., et al. and Abbott Laboratories, et al., No. 2:08-cv-00318- TJW, pending in the U.S. District Court for the Eastern District of Texas;
- Medtronic Vascular, Inc., et al. v. Abbott Cardiovascular Systems, Inc., et al., No. C-0601066 (PJH), pending in the U.S. District Court for the Northern District of California; and
- Boston Scientific Corp., et al. v. Medtronic, Inc., et al., No. CV 08 3844 PJH, pending in the U.S. District Court for the Northern District of California.
Source: www.bostonscientific.com
published: January 27, 2009 in: Boston Scientific, Companies, Medtronic, News, Products