Conmed, JNJ settle antitrust lawsuit |
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Published
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Thu, 05 Apr 2007 15:47
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UTICA, N.Y. (AP) - Surgical equipment maker Conmed Corp. said Thursday that Johnson & Johnson settled an antitrust lawsuit with the company by agreeing to pay it $11 million.Conmed sued Johnson & Johnson in 2003, claiming it engaged in illegal and anticompetitive practices on endoscopic surgery products. On March 31, JNJ settled and will pay Conmed $11 million. That will add up to a pre-tax gain between $6.3 million and $6.8 million, Conmed said.Shares of Conmed rose 30 cents to $30.07 on the Nasdaq Stock Market while shares of JNJ rose 20 cents to $61.49 on the New York Stock Exchange in morning trading.Copyright 2007 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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Conmed gets $11M settlement payment 