U.S. District Court in Delaware Enters Final Judgment of Approximately $1.2 Billion to Cordis Corporation On Patents Infringed by Medtronic, Inc. and Boston Scientific Corporation
Miami Lakes, FL .– The U.S. District Court in Delaware today entered final judgment including accrued interest, totaling approximately $1.2 billion, to Cordis Corporation against Medtronic, Inc. and Boston Scientific Corporation in cases involving the original Palmaz balloon expandable stent patent. Juries in 2000 and 2005 found that Boston Scientific’s and Medtronic’s bare metal stents infringed the Palmaz patent, which is owned by Cordis Corporation. Medtronic was ordered to pay approximately $521 million and Boston Scientific approximately $703 million.
The company is pleased that a judgment was entered and that the patent for Dr. Palmaz’s groundbreaking product has been acknowledged.
Cordis Corporation, a Johnson & Johnson company, is a worldwide leader in the development and manufacture of interventional vascular technology. Through the company’s innovation, research and development, Cordis partners with interventional cardiologists worldwide to treat millions of patients who suffer from vascular disease. More information about Cordis Corporation can be found at www.cordis.com.
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