Johnson & Johnson Wins $324 Million Patent Verdict
Boston Scientific
(BSX) - Get Boston Scientific Corporation Report
said Friday it has been ordered by a Wilmington, Del., federal jury to pay $324.4 million in damages to
Johnson & Johnson
(JNJ) - Get Johnson & Johnson Report
for patent infringement.
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Boston Scientific, a medical products company, called the ruling "excessive" and said the verdict "is not the final word," noting a possible appeal.
The company also said it hopes to convince the judge to overrule the verdict and said it will present evidence Johnson & Johnson's patents were obtained illegally.
Earlier in the week the jury found against Boston Scientific on one out of six claims in the patent infringement case brought by Johnson & Johnson relating to stents, tiny tubes used to prop open weakened heart arteries.
"Naturally we're very pleased," said a spokesman for Johnson & Johnson. "We always thought we had a strong case and are pleased the jury agreed."
Shares of Johnson & Johnson slipped 69 cents, or 0.7%, to $98.56 at the end of regular trading on the
New York Stock Exchange
. Boston Scientific fell 13 cents, or 1%, to $13.06.
