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Boston Scientific Wins Infringement Case in Germany on Medtronic's Rapid Exchange Stent Delivery Systems and Angioplasty Balloons |
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Natick, MA (June 11, 2002) -- Boston Scientific Corporation (NYSE: BSX) announced today that a German Court has ruled that certain Medtronic AVE, Inc. (NYSE: MDT) rapid exchange stent delivery systems and angioplasty dilatation balloons infringe a patent licensed exclusively to Boston Scientific under the doctrine of equivalence. The Court's decision was announced orally today. A written decision is expected in several weeks. As is customary in such cases in Germany, the decision gives Boston Scientific the right to obtain an injunction against continued sales of Medtronic's infringing products in Germany, as well as damages. The decision will be subject to appeal by Medtronic. The German patent involved in the case was granted to Dr. Tassilo Bonzel, and is a counterpart of the U.S. patent that an arbitration panel last year ruled had been willfully infringed by Medtronic. In that proceeding, the panel awarded Boston Scientific $169 million in damages, as well as costs and attorneys' fees, and a permanent injunction. The arbitrators' decision has been confirmed by a U.S. District Court, but Medtronic has appealed the decision. Boston Scientific is a worldwide developer, manufacturer and marketer of medical devices. The Company's products are used in a broad range of interventional medical specialties. This press release contains forward-looking statements. The Company wishes to caution the reader of this press release that actual results may differ from those discussed in the forward-looking statements and may be adversely affected by, among other things, risks associated with litigation, the Company's overall business strategy, and other factors described in the Company's filings with the Securities and Exchange Commission.
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