Boston Scientific Corp. (BSX) announced the settlement of three patent disputes with Johnson & Johnson (JNJ). The disputes date back to 2003 and cover Boston Scientific's Jang patent and J&J's Palmaz and Gray patents, all of which involve intellectual property in the cardiovascular arena. Boston Scientific said that it will make a $1.725 billion payment to J&J in connection with the settlement.
As per the settlement, Boston Scientific will pay J&J $1 billion today and the balance on or before the first week of January 2011. The Company plans to post a $745 million letter of credit, which will cover the $725 million balance and interest. The company expects to fund the $725 million remaining balance from cash on hand, unless it refinances at an earlier date.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.