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Stent Patent Verdicts Overturned by Judge

IN BRIEF/HEALTH CARE

April 02, 2002|Bloomberg News

Johnson & Johnson Inc. suffered a court setback in its bid to get almost $600 million awarded for its stent patents after a federal judge threw out verdicts against Medtronic Inc. and Boston Scientific Corp.

U.S. District Judge Sue Robinson ruled that Minneapolis-based Medtronic didn't infringe patents owned by Johnson & Johnson's Cordis unit, setting aside a $271.1-million jury verdict. She also overturned a $324.4-million damage award against Natick, Mass.-based Boston Scientific, although she upheld an infringement verdict.

New Brunswick, N.J.-based Johnson & Johnson pledged to appeal the judge's rulings.

In New York Stock Exchange trading, shares in Johnson & Johnson fell 34 cents to $64.61, Medtronic shares fell 61 cents to $44.60 and Boston Scientific shares fell 30 cents to $24.79.

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