ADVFN Logo ADVFN

We could not find any results for:
Make sure your spelling is correct or try broadening your search.

Trending Now

Toplists

It looks like you aren't logged in.
Click the button below to log in and view your recent history.

Hot Features

Registration Strip Icon for default Register for Free to get streaming real-time quotes, interactive charts, live options flow, and more.

BSX Boston Scientific Dl 01

86.00
-1.00 (-1.15%)
29 Nov 2024 - Closed
Realtime Data
Share Name Share Symbol Market Type
Boston Scientific Dl 01 TG:BSX Tradegate Ordinary Share
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -1.00 -1.15% 86.00 85.00 86.50 87.50 85.50 87.50 2,768 22:50:15

Doctor Files Patent-Infringement Suit Vs Abbott Over Stents

26/08/2009 3:39pm

Dow Jones News


Boston Scientific Dl 01 (TG:BSX)
Historical Stock Chart


From Nov 2019 to Nov 2024

Click Here for more Boston Scientific Dl 01 Charts.

A doctor who succeeded in a patent-infringement battle against Boston Scientific Corp. (BSX) over heart stents has filed suit in federal court against Abbott Laboratories Inc. (ABT), alleging Abbott has also infringed upon his stent patent.

The complaint from Dr. Bruce N. Saffran, a New Jersey radiologist, was filed in the U.S. District Court for the Eastern District of Texas on Monday. He alleges that Abbott's "Xience" medicated stent, a small device used to prop open heart arteries and keep them from narrowing due to scar tissue, infringes a patent from 1997 that he owns.

"Abbott believes that this patent is not valid and its product does not infringe," Abbott spokeswoman Adelle Infante said in response. "We will vigorously defend ourselves against these allegations."

Saffran filed the infringement suit against Boston Scientific over the same patent and in the same court in December 2005. He also filed a suit against Johnson & Johnson (JNJ), which also makes heart stents, in October 2007 over the same issue.

The case against J&J is scheduled for trial in mid-2011, J&J noted in a quarterly filing made earlier this month with the Securities and Exchange Commission.

In the Boston Scientific case, a jury in February 2008 awarded Saffran $431 million in damages, and a judge later added $69 million in pre-judgment interest. While Boston Scientific appealed the case, the two sides struck a deal in March this year over a reduced amount, which Boston Scientific covered with a $50 million charge in the first quarter.

Abbott's Xience stents have been on sale outside the U.S. for about three years and reached the U.S. market last summer. Boston Scientific also sells Xience under the name "Promus," then shares profits with Abbott under a deal linked to the companies' purchase of Guidant Corp. in 2006.

Boston Scientific's legal battle with Saffran involved the company's "Taxus"-brand stents.

-By Jon Kamp, Dow Jones Newswires; 617-654-6728; jon.kamp@dowjones.com

 
 

1 Year Boston Scientific Dl 01 Chart

1 Year Boston Scientific Dl 01 Chart

1 Month Boston Scientific Dl 01 Chart

1 Month Boston Scientific Dl 01 Chart

Your Recent History

Delayed Upgrade Clock