Quick Facts
FONT-SIZE Plus   Neg
Share SHARE

Jury Rules In Favor Of Smith & Nephew In Hologic Litigation - Quick Facts

RELATED NEWS
Trade HOLX now with 

Hologic Inc. (HOLX: Quote) announced that the jury returned a verdict in favour of Smith & Nephew (SNN: Quote, SN.L) in the patent infringement suit between the companies.

On June 9, 2010 and November 22, 2011, S&N filed suit in the United States District Court for the District of Massachusetts alleging infringement of U.S. Patents 7,226,459 and 8,061,359 by the use and sale of the MyoSure Tissue Removal Device. The two patent suits were consolidated into a single action culminating in a jury trial which commenced on August 20, 2012. On September 4, 2012, the jury in the trial returned a verdict in S&N's favor.

As a part of this verdict, the jury awarded S&N the sum of $4 million as damages for lost profits. Hologic, in connection with the acquisition of Interlace Medical, Inc. , the developer of the MyoSure product, is indemnified up to a previously defined dollar amount by the former Interlace Medical shareholders for potential associated liabilities.

"We are disappointed in and strongly disagree with the verdict in this case," said Mark Casey, Hologic's Senior Vice President, Chief Administrative Officer and General Counsel.

"This is but the first step in a multi-phase process and there remain several issues to be decided by the Court which could impact the applicability of this verdict. We intend to continue to market and sell the MyoSure product and, if necessary, will pursue the appellate process to ensure the right of women to have access to this best-in-class treatment for the removal of uterine fibroids," said Mark Casey.

Register
To receive FREE breaking news email alerts for Hologic Inc and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
LinkedIn Corp., the world's largest online professional network, said Thursday after the markets closed that it swung to a second quarter loss, hurt by higher costs and expenses even as revenue surged 47%. However, the company's quarterly earnings per share, excluding items, came in above analysts' expectations as did its quarterly revenue. Kraton Performance Polymers, Inc. (KRA), Wednesday reported second-quarter net income of $11.1 million or $0.33 per share, up from $3.8 million or $0.12 per share last year. Adjusted earnings improved to $0.46 per share from $0.15 per share last year. Revenues for the quarter dropped to $323.8... Organic grocer Whole Foods Market, Inc. said Wednesday after the markets closed that its third quarter profit rose 6.3% from last year, as same-store sales increased 3.9%. The company's quarterly earnings per share also came in above analysts' expectations, but its quarterly sales fell shy of analyst' forecast.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.