Published:
Boston Scientific Announces Court Decision
NATICK, Mass., Oct. 1 /PRNewswire-FirstCall/ -- Boston Scientific
Corporation (NYSE: BSX) announced today that the United States District Court
inDelaware has entered judgment against the Company in a case involving a
patent owned by Johnson & Johnson (NYSE: JNJ) and Boston Scientific's NIR
stent product. In the judgment, the judge awarded Johnson & Johnson damages
in the amount of $406,670,987 and pre-judgment interest in the amount of
$296,140,867.
Boston Scientific said it will appeal the judgment.
On September 15, the Company announced that the judge in this case had
granted Johnson & Johnson's motion for entry of judgment and had denied Boston
Scientific's motion for a new trial.
The original suit was filed in 1997. The Company hasn't sold the NIR
stent since 2004.
Boston Scientific is a worldwide developer, manufacturer and marketer of
medical devices whose products are used in a broad range of interventional
medical specialties. For more information, please visit:
http://www.bostonscientific.com.
Cautionary Statement Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning
of Section 21E of the Securities Exchange Act of 1934. Forward-looking
statements may be identified by words like "anticipate," "expect," "project,"
"believe," "plan," "estimate," "intend" and similar words. These
forward-looking statements are based on our beliefs, assumptions and estimates
using information available to us at the time and are not intended to be
guarantees of future events or performance. These forward-looking statements
include, among other things, statements regarding intellectual property
litigation and competitive offerings. If our underlying assumptions turn out
to be incorrect, or if certain risks or uncertainties materialize, actual
results could vary materially from the expectations and projections expressed
or implied by our forward-looking statements. These factors, in some cases,
have affected and in the future (together with other factors) could affect our
ability to implement our business strategy and may cause actual results to
differ materially from those contemplated by the statements expressed in this
press release. As a result, readers are cautioned not to place undue reliance
on any of our forward-looking statements.
Factors that may cause such differences include, among other things:
future economic, competitive, reimbursement and regulatory conditions; new
product introductions; demographic trends; intellectual property; litigation;
financial market conditions; and, future business decisions made by us and our
competitors. All of these factors are difficult or impossible to predict
accurately and many of them are beyond our control. For a further list and
description of these and other important risks and uncertainties that may
affect our future operations, see Part I, Item 1A - Risk Factors in our most
recent Annual Report on Form 10-K filed with the Securities and Exchange
Commission, which we may update in Part II, Item 1A - Risk Factors in
Quarterly Reports on Form 10-Q we have filed or will file thereafter. We
disclaim any intention or obligation to publicly update or revise any
forward-looking statements to reflect any change in our expectations or in
events, conditions, or circumstances on which those expectations may be based,
or that may affect the likelihood that actual results will differ from those
contained in the forward-looking statements. This cautionary statement is
applicable to all forward-looking statements contained in this document.
NIR is a trademark of Medinol, Ltd.
CONTACT: Paul Donovan
508-650-8541 (office)
508-667-5165 (mobile)
Media Relations
Boston Scientific Corporation
Larry Neumann
508-650-8696 (office)
Investor Relations
Boston Scientific Corporation
SOURCE Boston Scientific Corporation
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Tags: ,BIO,MTC,HEA,LAW,PLW,MA-BostonSci-J&, J-suit
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