Litigation takes a long time. And sometimes it takes a ridiculously long time.
After a 12 year battle over patents of heart stents, Boston Scientific and Johnson & Johnson have reached a partial settlement involving more than a dozen lawsuits. Johnson & Johnson will be paid $716 million.
WSJ: Boston Scientific, of Natick, Mass., is the sales leader in such stents, which are tiny scaffolds that prop open clogged arteries. Boston Scientific and Johnson & Johnson have been in litigation over the devices for 12 years.
Federal courts have found that each company’s stents infringe patents held by the other company. Last year, Johnson & Johnson won a verdict of $703 million, plus interest, in one case against Boston Scientific, which makes up the bulk of Tuesday’s settlement.
Boston Scientific’s press release is here.
The Supreme Court upheld the $703 million jury verdict in October. The settlement is only a partial one because it does not include an estimated $237 liability Boston Scientific expects to pay in another outstanding case, according the WSJ.
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