Judge Upholds Jury Verdicts on Cordis Patents
Infringed by Boston Scientific and
Medtronic
MIAMI, March 27 -- Cordis Corporation, a Johnson &
Johnson company, announced that U.S. District Judge Sue Robinson today upheld
two March 2005 jury verdicts that Cordis' pioneering patents for balloon
expandable stents were valid and infringed by Boston Scientific Corporation
and Medtronic, Inc. stents.
The juries found Boston Scientific's NIR stent infringed Cordis' Palmaz
patent and Medtronic's GFX and Microstent II infringed both the Palmaz and
Schatz patents. Today's ruling reinforces the strength of Cordis' deep patent
estate on balloon expandable stents.
The verdicts last year were the second time that juries found infringement
of the Cordis patents in these cases. In December of 2000, juries awarded
Cordis damages of $324 million in the verdict against Boston Scientific and
$270 million in the verdict against Medtronic. The court has deferred a final
decision on damages.
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 1, 2006. 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 |
