Cordis Corporation to Appeal Court Ruling
Miami, FL (June 9, 2005) – Cordis Corporation, a Johnson & Johnson company, today received a ruling from a court in the Netherlands that found the company infringed a Boston Scientific patent related to a catheter shaft that is used in the delivery system for the CYPHER® and CYPHER® Select Sirolimus-eluting Coronary Stents, as well as several other catheter-based products. Cordis Corporation intends to file an appeal with the Dutch Appeals Court.
The ruling requires that Cordis Corporation cease production of the balloon catheters made at its facility in Roden, the Netherlands, which supplies CYPHER® and CYPHER® Select products for markets outside the United States, and to cease sales of these products in the Netherlands. The ruling does not prevent sales of these products outside of the Netherlands. Given current inventory and expanding manufacturing capabilities elsewhere, Cordis Corporation does not expect a significant impact on its ability to supply the ex-U.S. marketplace for these products.
This ruling will not impact supply of the CYPHER® Stent in the United States.
About Cordis Corporation
Cordis Corporation, a Johnson & Johnson company, is a worldwide leader in developing and manufacturing interventional vascular technology. Through research, development and innovation, physicians worldwide are better able to treat the millions of patients who suffer from vascular disease. For more information about Cordis Corporation, please visit www.cordis.com.
(This press release contains "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. These statements are based on current expectations of future events. If underlying assumptions prove inaccurate or unknown risks or uncertainties materialize, actual results could vary materially from the Company's expectations and projections. Risks and uncertainties include general industry conditions and competition; economic conditions, such as interest rate and currency exchange rate fluctuations; technological advances and patents attained by competitors; challenges inherent in new product development, including obtaining regulatory approvals; domestic and foreign health care reforms and governmental laws and regulations; and trends toward health care cost containment. A further list and description of these risks, uncertainties and other factors can be found in Exhibit 99(b) of the Company's Annual Report on Form 10-K for the fiscal year ended January 2, 2005. Copies of this Form 10-K are available on-line at www.sec.gov or on request from the Company. The Company assumes no obligation to update any forward-looking statements as a result of new information or future events or developments.)
Cordis Corporation |
