MIAMI, Sept. 15 /PRNewswire/ -- The U.S. District Court in Delaware
today granted Cordis Corporation's motion for final judgment against Boston
Scientific Corporation and Medtronic, Inc. in their cases involving the
original Palmaz balloon expandable stent patent.
Cordis had asked U.S. District Court Judge Sue Robinson to reinstate
the damages verdicts Cordis had obtained in 2000, plus accrued interest. In
its order, the Court indicated its intention to enter final judgment on
September 30, 2008, including an award of pre-judgment interest at the
prime rate.
"We are very pleased that Judge Robinson granted our motion for
reinstatement of damages and gratified that this litigation finally appears
to be drawing to a close," said Seth Fischer, Company Group Chairman for
the Cordis franchise.
Both patent infringement cases were originally tried in 2000, with
Cordis receiving favorable jury verdicts at that time of $324 million
against Boston Scientific and $271 million against Medtronic, prior to the
addition of interest. After a series of procedural rulings and appeals,
both cases were retried in March of 2005, with Cordis prevailing again.
Cordis Corporation, a Johnson & Johnson company, is a worldwide leader
in the development and manufacture of interventional vascular technology.
Through the company's innovation, research and development, Cordis partners
with interventional cardiologists worldwide to treat millions of patients
who suffer from vascular disease. More information about Cordis Corporation
can be found at http://www.cordis.com.
SOURCE Cordis Corporation
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http://www.cordis.com
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CONTACT:
Media: Chris Allman, +1-305-586-6024, or
Investors: Louise Mehrotra, +1-732-524-6491, or Stan Panasewicz,
+1-732-524-2524, all for Cordis Corporation
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