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 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.