Dutch court rules for Boston Scientific |
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Thu, 18 Jan 2007 07:27
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NEW YORK (AFX) - Boston Scientific Corp. said Wednesday a Dutch court ruled in its favor, along with partner Angiotech Pharmaceuticals Inc., in a patent lawsuit against Conor Medsystems Inc.District Court in The Hague found Conor's CoStar paclitaxel stent infringed a claim to the Dutch version of Angiotech's European paclitaxel stent patent. The same claim was revoked in by a U.K. court, but has been twice upheld by the Dutch court, Boston Scientific said.Boston Scientific and Angiotech are partners on the stent, with Angiotech making the drug-coating paclitaxel.The court also granted both companies an injunction against Conor, keeping it from selling its stent in the Netherlands. Damages were also ordered.Boston Scientific said the patent is valid in all European jurisdictions except the U.K., though no cross-border injunction was issued by the court.'This decision reaffirms the strength of Angiotech's worldwide paclitaxel stent intellectual property portfolio,' said Jim Tobin, president and chief executive of Boston Scientific.Conor Chairman and CEO Frank Litvack said the company intends to appeal the decision.'While we are disappointed with the Court's decision today, we are pleased the court invalidated the main claim of the patent and rejected Angiotech's request for a cross-border injunction and a ban on the use of our CE mark and clinical trial data,' he said.Shares of Boston Scientific shed 2 cents to $18.10 on the New York Stock Exchange while shares of Angiotech rose 43 cents, or 5 percent, to $9.03 on the Nasdaq in afternoon trading. That stock has traded between $7.73 and $16.80 over the last 52 weeks.Conor's stock fell 5 cents to $32.88 on the Nasdaq.Copyright 2006 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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Boston Scientific's stent sales fall 