Globus owes $16M in J&J patent suit

A Delaware jury ruled that Globus Medical ($GMED) violated three patents owned by Johnson & Johnson ($JNJ), ordering the company to fork over $16 million in damages.

The jury found that three now-discontinued Globus products violated patents held by J&J segment DePuy Synthes, though Globus notes it's still working through motions aimed to reverse the verdict and that the court is yet to enter a formal judgment.

"The company believes the facts and the law do not support the jury's findings of infringement and patent validity and will seek to overturn the verdict in post-trial motions with the District Court and, if necessary, through the appeals process," Globus wrote in a statement.

The company said it doesn't expect the verdict to mar earnings as the three devices in question are no longer on the market and Globus won't be on the line for any royalty payments.

Synthes first filed suit back in 2011, before J&J bought it for about $21.3 billion, claiming Globus' Independence, Coalition and InterContinental spinal devices infringed on its intellectual property.

And while the verdict likely wraps up this particular dispute, still pending is Globus' May 15 lawsuit against J&J claiming the company violated its patent with the Zero-P VA intervertebral fusion implant, launched in February. Globus is seeking a jury trial in that suit, asking for an injunction on sales and a damage award.

- read Globus' statement
- check out the May lawsuit (PDF)