Haemonetics (HAE) Receives Favorable Ruling in Patent Lawsuit against Competitive Technology
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Haemonetics Corporation (NYSE: HAE) announced that the U.S. District Court for the District of Massachusetts has made a ruling in the Company's lawsuit against Fenwal, Inc.
In January 2009, a jury issued a verdict in favor of Haemonetics, finding that Fenwal's ALYX Component Collection System consumable infringes a U.S. Haemonetics patent. The jury awarded Haemonetics $15.7 million in damages for past infringement. On June 2, 2009, the Court further ruled that, in addition to paying the damages awarded by the jury, Fenwal must stop selling the ALYX consumable by December 1, 2010 and must pay Haemonetics a 10% royalty on ALYX consumable net sales from January 30, 2009 until December 1, 2010 when the injunction takes effect. In addition, the court awarded pre-judgment interest at 5% on the unpaid damages awarded. These rulings may be appealed by Fenwal and/or Baxter.
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