Dr. Manny Villafaña is one of the most successful men in the history of medical innovation, having founded some of the most successful companies in the industry, including Guidant Corp., which was sold to Boston Scientific for more than $27 billion and St. Jude Medical (NYSE:STJ). His most recent venture, Kips Bay Medical was supposed to […]
Guidant Corp.
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Boston Scientific to pay J&J $600 million to settle Guidant suit
(Reuters) – Medical device maker Boston Scientific Corp on Tuesday said it has agreed to pay $600 million to Johnson & Johnson to settle a long-running lawsuit over Boston Scientific’s 2005 acquisition of rival Guidant.
J&J had sought more than $7 billion in damages after it lost a bidding war to Boston Scientific following an initial deal to buy Guidant for $21.5 billion in 2005. J&J accused Guidant of breaking that deal.