Thank you for sharing!

Your article was successfully shared with the contacts you provided.
Medical device maker Medtronic Inc. said it lost a jury verdict on Monday in a heart stent patent dispute with a unit of Johnson & Johnson Inc. Medtronic said damages will be determined at future hearings, which have not yet been scheduled. The dispute involved Medtronic’s Microstent II, GFX and GFX II coronary stents, which it no longer sells. The Delaware jury found that the stents violated patents held by Cordis Corp., a unit of Johnson & Johnson based in New Brunswick, N.J. A stent is a tiny wire metal mesh used to prop open arteries. Fridley, Minn.-based Medtronic said the jury verdict would have no impact on its current line of stents. However, Cordis said it believes the patents also apply to some current Medtronic stents, including its Driver stent. Cordis said those stents are the subject of another lawsuit. The case decided Monday was a retrial of a case first heard in 2000, Cordis said. The company said it would ask the judge to reinstate the first jury’s $271 million damage award, plus interest, or else to hold a new trial on damages. Medtronic shares rose 42 cents to close at $54.39 in Monday trading on the New York Stock Exchange. The stock has been trading at a 52-week range of $43.99 to $55.44. Johnson & Johnson shares rose 22 cents to close at $67.82 on the NYSE, near the high end of a 52-week range of $49.25 to $68.68. Copyright 2005 Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.

Want to continue reading?
Become a Free ALM Digital Reader.

Benefits of a Digital Membership:

  • Free access to 1 article* every 30 days
  • Access to the entire ALM network of websites
  • Unlimited access to the ALM suite of newsletters
  • Build custom alerts on any search topic of your choosing
  • Search by a wide range of topics

*May exclude premium content
Already have an account?


ALM Legal Publication Newsletters

Sign Up Today and Never Miss Another Story.

As part of your digital membership, you can sign up for an unlimited number of a wide range of complimentary newsletters. Visit your My Account page to make your selections. Get the timely legal news and critical analysis you cannot afford to miss. Tailored just for you. In your inbox. Every day.

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.