This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

OrbusNeich Seizes Boston Scientific Stents In Germany As Part Of Patent Infringement Proceedings

Stocks in this article: BSX

WIESBADEN, Germany, May 21, 2013 /PRNewswire/ -- Medical device manufacturer OrbusNeich Medical Inc. and its subsidiary, OrbusNeich Medical GmbH (collectively "OrbusNeich") today announced that it has enforced the seizure of over 190 stent systems from Boston Scientific Corporation (NYSE: BSX) in connection with its patent infringement proceedings in the Dusseldorf Regional Court. The products were found on May 15, 2013, at the premises of Boston Scientific Medizintechnik GmbH in Ratingen ( Germany), the German subsidiary of Boston Scientific Corporation (collectively "Boston Scientific").

In violation of the Court's April 30, 2013 Preliminary Injunction, Boston Scientific initially denied access to search its premises – the court's decision grants OrbusNeich the right to seize stents in the possession of Boston Scientific that have been commercially distributed but not yet used. Boston Scientific claimed that none of the concerned stent systems were in its possession at the location in Ratingen. Only after the Police were called did Boston Scientific allow the bailiff to search the building and seize the products.

The April 30, 2013, ruling, which Boston Scientific has appealed, allows OrbusNeich to prevent Boston Scientific from marketing and selling the affected stent lines in Germany, which include the Small Vessel, Small Workhorse and Workhorse Stents of Boston Scientific's PROMUS Element , PROMUS Element Plus , OMEGA , TAXUS Element , SYNERGY and Promus PREMIER product lines. In this decision, the Regional Court found that the geometric pattern of these stents infringe OrbusNeich's patent EP 1 341 482.  

On May 13, 2013, OrbusNeich obtained a second Preliminary Injunction against Boston Scientific following Boston Scientific's attempt to circumvent the first Injunction by transferring the German distribution of the affected products to Boston Scientific (UK) Ltd. and Boston Scientific Ltd. Boston Scientific may appeal this decision.

In addition to the Preliminary Injunctions, OrbusNeich's principal patent infringement proceedings are also before the Dusseldorf Regional Court. In these proceedings, OrbusNeich is seeking damages, a permanent injunction and other relief for alleged infringement of the German parts of the EP 1 341 412 and '482 patents by the affected stent lines. A hearing in this main proceeding is scheduled for May 2014. 

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

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.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

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.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,959.44 +154.64 0.87%
S&P 500 2,078.54 +7.89 0.38%
NASDAQ 4,781.4240 +16.0440 0.34%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs