Boston Scientific settles for less
This article was originally published in The Gray Sheet
Executive Summary
Firm settles long-running patent dispute case with Princeton, N.J., radiologist Bruce Saffran on March 17 for $50 million, a significantly lower pay-out than the $501 million in damages and pre-judgment interest originally awarded to Saffran last February (1"The Gray Sheet" Feb. 18, 2008, p. 14). Boston Scientific will record the settlement charge in its first fiscal quarter. In December 2005, Saffran filed suit against Boston Scientific in the U.S. District Court for the Eastern District of Texas, alleging that the firm's Taxus and Taxus Liberté paclitaxel-eluting coronary stents infringe on one of Saffran's patents. Saffran has a similar case pending against Cypher stent-maker Johnson & Johnson