Boston Scientific, Johnson & Johnson Reach $1.7B Settlement
In an effort to reduce litigation risk, Natick-based Boston Scientific has agreed to pay $1.7 billion to health care products giant Johnson & Johnson to settle three patent disputes.
The disputes date back to 2003 and involve allegations that each company infringed on the other's patents for stent system technology.
Each company was found to have infringed on each other's patents in two separate cases, and in a third case Johnson & Johnson alleged infringement by Boston Scientific.
Instead of those cases going to trial to determine damage claims, the companies agreed upon a $1.7 billion settlement that Boston Scientific will pay to Johnson & Johnson over the next two years.
Boston Scientific said four other allegations of patent infringement by Johnson & Johnson were dropped last month.
WBJ Web Partners
Most Recent
Most Recent
0 Comments