Conceptus (CPTS) Announces Positive Ruling in Patent Infringement Against Hologic (HOLX)
Conceptus, Inc. (Nasdaq: CPTS) announced that Judge William Alsup of the United States District Court, Northern District of California, denied Hologic Inc.'s (Nasdaq: HOLX) motions seeking to overturn the jury's verdict that the use of Hologic's Adiana System infringed on Conceptus' patent rights. While the court denied the Conceptus motion for permanent injunction, which sought to permanently enjoin Hologic from selling its Adiana system in the United States and denied Conceptus' request for supplemental damages, it specifically noted that Conceptus is entitled to file a supplemental complaint seeking damages since June 30, 2011.
The decision stems from a jury verdict on October 17, 2011, in which the jury found that the use of Hologic's Adiana system infringed on claims of Conceptus' U.S. Patent Number 6,634,361 related to the Essure procedure. The jury awarded Conceptus $18.8 million in monetary lost profit damages based on Adiana sales through June 30, 2011.
"While the judge did not grant our motion for a permanent injunction against our competitor's product, the court's decision today reaffirms the jury's verdict and represents the next step in the process to finalize damages in connection with the jury finding that Hologic infringed on Conceptus' patent," said D. Keith Grossman, president and chief executive officer of Conceptus. "We are currently evaluating our options, including filing a supplemental complaint to seek lost profits."
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The decision stems from a jury verdict on October 17, 2011, in which the jury found that the use of Hologic's Adiana system infringed on claims of Conceptus' U.S. Patent Number 6,634,361 related to the Essure procedure. The jury awarded Conceptus $18.8 million in monetary lost profit damages based on Adiana sales through June 30, 2011.
"While the judge did not grant our motion for a permanent injunction against our competitor's product, the court's decision today reaffirms the jury's verdict and represents the next step in the process to finalize damages in connection with the jury finding that Hologic infringed on Conceptus' patent," said D. Keith Grossman, president and chief executive officer of Conceptus. "We are currently evaluating our options, including filing a supplemental complaint to seek lost profits."
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