Boston Scientific and Medtronic reach agreement over patent disputes
31 January 2009
Boston Scientific Corporation (NYSE:BSX) and Medtronic, Inc.
(NYSE:MDT) have 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.
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