Jury Finds Cordis Patents Infringed
by Boston Scientific Stents
MIAMI, June 21 -- Cordis Corporation, a Johnson & Johnson company, today announced that a U.S. District Court jury in Wilmington, Delaware found that Boston Scientific's Taxus drug-eluting stent and its Liberte and Express bare metal stents infringe Cordis' pioneering Palmaz patent for balloon expandable stents, and that the bare metal Liberte stent also infringes another Cordis patent -- the Gray patent -- which relates to flexible balloon expandable stents and expires in 2016.
A new jury is scheduled to convene in August for a trial to determine the amount of damages owed to Cordis and whether the infringement was willful. If the jury finds willful infringement, U.S. District Court Judge Sue Robinson can as much as triple the damages judgment.
Earlier in the trial, Judge Robinson dismissed "without prejudice" Cordis' claims that Boston Scientific's drug-eluting version of the Liberte stent infringes both the Palmaz and Gray patents, indicating the court had no jurisdiction to hear the claims now because that stent is not currently marketed in the United States.
"We are confident that the finding of infringement of the Gray patent by the bare-metal Liberte stent will also apply to the drug-eluting version of Liberte, and Cordis will strongly assert its patent claim against it if and when the product is launched," said Nick Valeriani, Worldwide Chairman, Cardiovascular Devices and Diagnostics. "Today's findings of infringement against the Taxus, Liberte and Express stents -- together with previous findings of infringement by Boston Scientific's NIR stent -- reinforces the strength of Cordis' deep patent estate on balloon expandable stents."
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, please visit http://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 online at http://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.)
Source: Cordis Corporation
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