Advertisement

Boston Sci payout to Medtronic is amended

July 24, 2008 at 5:33AM

Boston Sci payout to Medtronic amended Medtronic Inc., the Fridley maker of heart devices, agreed that a $250 million patent-infringement verdict won against Boston Scientific Corp. should be cut by almost $64 million, because a judge threw out part of the decision. The two companies agreed on the reduction after a federal judge in Texas said there was "no legally sufficient" basis for a jury to find that Boston Scientific's catheters infringe a Medtronic patent. In all, Medtronic had claimed nine models of Boston Scientific catheters violated a patent for materials used in the balloons that inflate arteries so that heart stents can be implanted.

BLOOMBERG NEWS

British panel hands J&J setback on pricing A British health-cost review panel rejected arguments by Johnson & Johnson's Cordis unit against a plan to cap the price of drug-coated heart stents, medicine-coated tubes that prop open clogged arteries. The National Institute for Health and Clinical Excellence upheld a ruling that the stents cost no more than about $599, more than conventional bare-metal models, according to a statement on the London-based agency's website. Metal stents should typically cost about $261, the guidance said. Cordis' Cypher stent competes with Boston Scientific's Taxus, Abbott Laboratories' Xience and Medtronic's Endeavor devices.

BLOOMBERG NEWS

Advertisement
about the writer

about the writer

More from Business

See More
card image

The med spa industry has grown quickly. That’s one reason clients should ask questions about a provider’s training and the salon’s medical oversight

Advertisement
Advertisement

To leave a comment, .

Advertisement