Medtronic Inc will pay $400 million to Abbott Laboratories for infringing Abbott’s patent US5451233 on stent titled, “Angioplasty apparatus facilitating rapid exchanges” by marketing Xience.
Both the companies agreed not to sue each other over stents and stent-delivery systems for at least 10 years, Fridley-based Medtronic said Monday in a statement.
Recently Medtronic announced that paid J&J $270 million to settle all royalty disputes regarding certain stent patents.
Notably, late last month, a jury in Texas said Abbott should pay J&J’s Centocor unit $1.67 billion in royalties on the arthritis drug Humira, the biggest patent verdict in U.S. history. While Abbott is challenging the verdict, this is indeed good news to Abbott Laboratories.
Source: Morningstar, finance-commerce, Medicaldevicestoday
Recently Medtronic announced that paid J&J $270 million to settle all royalty disputes regarding certain stent patents.
Notably, late last month, a jury in Texas said Abbott should pay J&J’s Centocor unit $1.67 billion in royalties on the arthritis drug Humira, the biggest patent verdict in U.S. history. While Abbott is challenging the verdict, this is indeed good news to Abbott Laboratories.
Source: Morningstar, finance-commerce, Medicaldevicestoday
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