Hologic Inc. (HOLX) announced that the jury returned a verdict in favour of Smith & Nephew (SNN,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.
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