Boston Scientific (BSX) Announces U.S. District Court of Marshall, TX Rejects 2 Medtronic Patents
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Boston Scientific Corporation (NYSE: BSX) today announced that the U.S. District Court of Marshall, Texas found two patents of Medtronic, Inc. (NYSE: MDT) unenforceable for inequitable conduct during the prosecution of the patents before the United States Patent and Trademark Office.
A jury had previously found that certain Boston Scientific balloon catheters and stent delivery systems infringed three Medtronic patents and that the patents were valid. The jury awarded damages of $250 million. As a result of today's decision, the damages are reduced to approximately $19 million. Following a prior decision by the Court, Medtronic and Boston Scientific had already agreed to reduce the jury verdict to approximately $186 million.
Boston Scientific plans to appeal the remaining $19 million damage award to the U.S. Court of Appeals for the Federal Circuit in Washington, D.C. The Company is confident it will prevail on appeal.
Boston Scientific Corporation engages in the development, manufacture, and marketing of medical devices that are used in various interventional medical specialties worldwide.
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