Coronary stent patent case resolution (again)
This article was originally published in The Gray Sheet
Executive Summary
A stent patent case that has been in federal court since the 1990s will get closer to possible resolution Sept. 30 when a federal judge in Delaware plans to issue final judgment, reinstating infringement damages plus interest from Boston Scientific and Medtronic to Johnson & Johnson/Cordis that were initially awarded in 2000. The infringement findings, relating to Cordis' Palmaz balloon expandable stent patent, and damages of $324 million from Boston Scientific and $271 million from Medtronic, were set aside in 2002 in response to appeals and other procedural steps. A new trial was ordered, and in 2005 a jury again found in favor of Cordis. Boston Scientific and Medtronic no longer offer stents using the infringing platforms. On Sept. 15, Judge Sue Robinson rejected Boston Scientific's motion for yet another new trial, a decision that the firm plans to appeal
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J&J scores $1.2 bil. in stent patent fight
Appeal of a $1.2 billion stent patent infringement judgment in favor of Johnson & Johnson/Cordis is the next step for defendants Boston Scientific and Medtronic. Final judgment entered in Delaware federal court Sept. 30 calls for Boston Scientific to pay $703 million in damages and pre-judgment interest, and Medtronic to pay $521 million. The award follows jury findings in 2000 and 2005 that the firms infringed J&J's Palmaz patent. An Oct. 1 report from Morgan Stanley analyst David Lewis suggests that the legal ruling, while "not insignificant," is "manageable" for Boston Scientific and Medtronic, in part since both firms have already established some reserves to help pay the costs and they will look to appeal. The companies no longer offer stents using the infringing platforms (1"The Gray Sheet" Sept. 22, 2008, In Brief)
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