Medtronic settles longstanding suit with J&J
This article was originally published in The Gray Sheet
Executive Summary
Medtronic pays Johnson & Johnson $270 million to settle all royalty disputes over its licensed use of Palmaz-Schatz and Pinchuk patents for coronary angioplasty stents and balloon materials, Medtronic says May 8. The firm is taking a related one-time charge in its fourth fiscal quarter, which ended in April. While the settlement resolves all disputes under the parties' 1997 licensing agreement, Medtronic notes their other disputes "are unaffected.