Medinol Was Boston Scientific’s First And Final Pipeline Partner, CFO Vows
This article was originally published in The Gray Sheet
Executive Summary
Boston Scientific is extracting a painful lesson from its failed business relationship with former stent partner Medinol: never delegate manufacturing and R&D authority to another firm
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Boston Scientific v. Medinol
Manhattan federal court rules Medinol is entitled to try its claims that Boston Scientific's sales of Taxus and Express stents are a breach of contract, entitling it to royalties, the Israeli firm states Dec. 2. A status conference is slated for Jan. 13 to set a trial date. Medinol developed and manufactured stents for Boston Scientific beginning in 1995 until the relationship soured in 2000, when Boston Scientific revealed a secret project - called "Project Independence" - under which it shifted its manufacturing and R&D programs in-house by building a plant in Galway, Ireland (1"The Gray Sheet" April 8, 2002, p. 14). Boston Scientific says the court's ruling will not interfere with Taxus paclitaxel-eluting stent sales. In a Dutch court, Medinol recently sought a 30% royalty from Boston Scientific on all past and future sales of Taxus in and from The Netherlands (2"The Gray Sheet" Feb. 16, 2004, p. 20)...