The U.S. Supreme Court today declined to take up the Zimmer Biomet (NYSE:ZBH) appeal of a $248 million loss to Stryker (NYSE:SYK) in a patent infringement case.
The case dates back to December 2010, when Stryker sued orthopedics rival Zimmer, alleging infringement of 3 patents covering wound debridement technology by Zimmer’s Pulsavac Plus device.
Last December the U.S. Court of Appeals for the Federal Circuit affirmed a lower court’s judgment, after the award in the case was boosted after a Supreme Court ruling made it easier to award enhanced damages. In June, after the appeals bench denied its bid for a hearing before the full court, Zimmer asked the Supremes to take up the case. The high court today declined to review the suit, leaving Zimmer on the hook for the full $248 million.
ZBH shares were up 0.3% to $134.80 apiece today in noontime trading; SYK shares were off by the same percentage at $214.94 each.
