Results from Abbott’s (NYSE:ABT) Spirit IV trial, which the company said confirms the superiority of its Xience V drug-eluting stent over Boston Scientific Corp.’s (NYSE:BSX) Taxus, were published today in the New England Journal of Medicine.
Cordis Corp. tapped the lead investigator in clinical trials of its Cypher drug-eluting stent, Dr. Christian Spaulding, to be its worldwide vice president of medical affairs.
The Johnson & Johnson (NYSE:JNJ) subsidiary said Spaulding will lead its global clinical strategy starting June 1 from his home base in Paris.
Johnson & Johnson (NYSE:JNJ) appealed a federal judge’s ruling that four of its Cordis Corp. subsidiary’s drug-eluting stent patents are invalid, the latest salvo in its long-running infringement battle with Boston Scientific Corp. (NYSE:BSX).
The patents in question are at the heart of complicated legal wrangling involving the Natick, Mass.-based medical device giant, its New Brunswick, N.J.-based rival and its competitor/partner Abbott (NYSE:ABT). The dispute centers around Boston Scientific’s Promus stent, a private-label version of Abbott’s Xience V stent, and the Cordis Cypher.
Boston Scientific Corp. (NYSE:BSX) will pay Johnson & Johnson (NYSE:JNJ) $1.725 billion to settle a quartet of patent infringement lawsuits concerning the companies’ lines of cardiovascular stents.
The Natick, Mass.-based medical devices monolith agreed to the settlement, which calls for it to pay J&J $1 billion today and the rest in about a year, said it plans to post a $745 million letter of credit to cover the $725 million balance and interest. The deal won’t have "an appreciable impact" on Boston Scientific’s debt covenants, according to a press release, and will leave BSX with "significant liquidity" under its credit facilities.
Abbott (NYSE:ABT) reported strong sales for its vascular medical devices business, which posted double-digit growth during 2009 and rose 9.1 percent to $723 million during the fourth quarter, including the effects of foreign exchange rates.
The Chicago-area medical device monolith’s overall sales rose 10.6 percent to $8.79 billion during the three months ended Dec. 31. For the full year, total sales reached $30.77 billion, a 4.2 percent increase when exchange rates were taken into account.
Boston Scientific Corp. (NYSE:BSX) won the latest round in its long-running patent war with Johnson & Johnson (NYSE:JNJ) when a federal judge declared invalid a quartet of J&J subsidiary Cordis Corp’s. patents for drug-eluting stents.
The patents in question are at the heart of complicated legal wrangling involving the Natick, Mass.-based medical device giant, its new Brunswick, N.J.-based rival, Abbott (NYSE:ABT) and Wyeth. The dispute centers around Boston Scientific’s Promus stent, a private-label version of Abbott’s Xience V stent, and the Cordis Cypher.
A federal judge this week sided with Cordis and fellow plaintiff Wyeth, now part of Pfizer Inc. (NYSE:PFE), transfering a suit seeking to invalidate a patent co-owned by the two companies from the U.S. District Court for Minnesota to New Jersey. The suit was bought by Abbott Laboratories (NYSE:ABT) and Boston Scientific Corp. (NYSE:BSX) as part of their defense against a suit alleging the Xience V and Promus drug-eluting stents infringe on the Cypher stent made by Cordis.
Abbott (NYSE:ABT) won approval from the Japanese Ministry of Health, Labor and Welfare for its Xience V drug-eluting stent.
Abbott said it plans to bring the device to market as soon as it receives final reimbursement authorization from Japanese officials.
Boston Scientific Corp. (NYSE:BSX) enrolled its first patient in a worldwide trial examining the use of blood thinners in conjunction with drug-eluting stents, joining a trio of other industry giants and their pharmaceutical partners in the study.
Participating in the four-year DAPT Study are Natick, Mass.-based Boston Scientific, manufacturer of the Taxus and Promus stents, along with device makers Medtronic Inc. (NYSE:MDT), Abbott Laboratories (NYSE:ABT) and Cordis Corp., the stents arm of healthcare conglomerate Johnson & Johnson (NYSE:JNJ). Drug-makers Bristol-Myers Squibb Co. (NYSE:BMY), Sanofi Pharmaceuticals (NYSE:SNY), Eli Lilly & Co. (NYSE:LLY) and Daiichi-Sankyo Company Ltd. (TYO:4568) also have signed on for the study.
Thought-powered robotic hand unveiled: LifeHand, a European project to develop an implanted, electrode-controlled prosthetic hand just showed off its first human subject, who used the device for an entire month. Unlike with many other prostheses, Pierpaolo Petruzziello was able to use pure thought to move the fingers of the hand and perform fairly advanced tasks.