Patent Setback for J&J
Judge Sue Robinson issued a ruling denying J&J's motion to overturn the verdict. A Delaware jury determined last year that the Cypher stent, made by J&J's Cordis unit, infringed Boston's Ding patent. The jury also said the patent was valid.
The Ding patent covers claims for a two-layer drug coating on a stent, a wire-mesh tube used to prop open arteries that have been cleared of blockages.
Boston Scientific, a Massachusetts-based medical-device seller, will next have to contend with an appeal from Cordis.The warring sides know each other well, and not just on the product competition and litigation fronts. Earlier this year, Boston Scientific outlasted New Jersey's J&J in a drawn-out bidding battle for Indianapolis-based defibrillator maker Guidant. Judge Robinson's ruling was her third in the past six weeks regarding patent disputes between the two companies, J&J said. In the first decision, she agreed with a jury verdict from last year that Boston Scientific's Taxus stent and its Liberte and Express bare-metal stents infringed some Cordis' patents, one of which has now expired. Another ruling saw the judge uphold the portion of a previous jury verdict that found the Cypher and the Cordis Bx Velocity stents infringed Boston Scientific's Jang patent. Cordis is appealing the judge's decisions on the Jang and Ding patents to a federal appeals court in Washington. Shares of Boston Scientific were up 54 cents, or 2.8%, to $20.06. J&J was adding 8 cents at $61.55.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV