How much did Medtronic Inc. have to pay Abott Laboratories?
Medtronic, Abbott Labs Resolve Stent-Patent Claims (Update3) Share | Email | Print | A A A By Susan Decker and William McQuillen July 27 (Bloomberg) — Medtronic Inc. agreed to pay $400 million to Abbott Laboratories to end more than a decade of litigation over medical devices that prop open heart arteries after they’ve been cleared of fat. The agreement ends a case that was scheduled to begin trial today in federal court in San Francisco against Abbott and an appeal of infringement findings against Medtronic. The companies agreed not to sue each other over stents and stent-delivery systems for at least 10 years, Minneapolis-based Medtronic said today in a statement. Each was using patent litigation as they vie for a larger share in the $1.9 billion U.S. market for heart stents. Abbott makes the top-selling Xience stent system. Medtronic’s Endeavor stent, approved by regulators in February 2008, initially grabbed about 20 percent of the market before Abbott introduced Xience a year ago
Related Questions
- If I am denied airline boarding access because I am contagious, will the MEDEX program pay for any expenses I incur due to the extended stay and will they change my flight?
- How much is Abbott Laboratories prepared to pay to acquire Evalve Inc?
- How much did Medtronic Inc. have to pay Abott Laboratories?
