Boston Scientific Announces Favorable Jury Verdict Against Cordis Corporation in Stent Patent Litigation
NATICK, Mass., May 11, 2011 /PRNewswire/ -- Boston Scientific Corporation (NYSE: BSX) today announced that a jury in the District Court for the District of Delaware found that Cordis Corporation owed Boston Scientific approximately $19.5 million for infringing its Jang patent, which covers intellectual property associated with coronary stent technologies. The jury awarded $18.5 million in lost profits and $1 million in reasonable royalties to Boston Scientific.
Boston Scientific brought suit against Cordis for patent infringement in December 2009, shortly after the U.S. launch of Cordis' 2.25 mm Cypher® Stent. On April 13, 2011 the Delaware Court ruled that, as a matter of law, Cordis infringed Boston Scientific's Jang patent and later found that Cordis' infringement was willful.
"We are pleased to see the jury recognize the value of our intellectual property," said Hank Kucheman, Executive Vice President and Group President, Cardiology, Rhythm and Vascular for Boston Scientific. "This is an important outcome in protecting our market position in small-vessel, drug-eluting stents against infringing products."
About Boston ScientificBoston Scientific is a worldwide developer, manufacturer and marketer of medical devices whose products are used in a broad range of interventional medical specialties. For more information, please visit: www.bostonscientific.com.
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