U.S. District Court in Delaware Reinstates Damage Awards to Cordis Corporation on Patents Infringed by Medtronic, Inc. and Boston Scientific Corporation
Miami, FL (September 15, 2008) - The U.S. District Court in Delaware today granted Cordis Corporation's motion for final judgment against Boston Scientific Corporation and Medtronic, Inc. in their cases involving the original Palmaz balloon expandable stent patent.
Cordis had asked U.S. District Court Judge Sue Robinson to reinstate the damages verdicts Cordis had obtained in 2000, plus accrued interest. In its order, the Court indicated its intention to enter final judgment on September 30, 2008, including an award of pre-judgment interest at the prime rate.
"We are very pleased that Judge Robinson granted our motion for reinstatement of damages and gratified that this litigation finally appears to be drawing to a close," said Seth Fischer, Company Group Chairman for the Cordis franchise.
Both patent infringement cases were originally tried in 2000, with Cordis receiving favorable jury verdicts at that time of $324 million against Boston Scientific and $271 million against Medtronic, prior to the addition of interest. After a series of procedural rulings and appeals, both cases were retried in March of 2005, with Cordis prevailing again.
Cordis Corporation, a Johnson & Johnson company, is a worldwide leader in the development and manufacture of interventional vascular technology. Through the company's innovation, research and development, Cordis partners with interventional cardiologists worldwide to treat millions of patients who suffer from vascular disease. More information about Cordis Corporation can be found at www.cordis.com.