Tags: US | Cordis | Boston | Scientific

Boston Scientific to Pay JNJ $1.73 Billion in Settlement

Monday, 01 Feb 2010 08:38 AM

Johnson & Johnson said Monday Boston Scientific Corp. will pay the company $1.73 billion to settle two suits related to patents for stents.

Boston Scientific will pay Johnson & Johnson's Cordis unit $1 billion today and $725 million next January.

Johnson & Johnson, based in New Brunswick, N.J., said it expects to post the majority of the payment on Monday.

The lawsuits had been pending in U.S. District Court in Delaware.

Other litigation between the companies remains, including the Cordis lawsuits against Natick, Mass.-based Boston Scientific's Promus stent products.

Stents are mesh-wire tubes used to hold arteries open after they are surgically cleared of blockages.

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Johnson Johnson said Monday Boston Scientific Corp. will pay the company $1.73 billion to settle two suits related to patents for stents.Boston Scientific will pay Johnson Johnson's Cordis unit $1 billion today and $725 million next January.Johnson Johnson, based in...
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2010-38-01
Monday, 01 Feb 2010 08:38 AM
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