Medtronic To Pay J&J $270M Over Stent Patent Fees

Law360, New York (May 11, 2009, 12:00 AM EDT) -- Medtronic Inc. has agreed to fork over $270 million in a bid to bury the hatchet with Johnson & Johnson in a long-running dispute over royalties concerning three stent patents used in heart surgeries.

Minneapolis-based Medtronic said Friday the deal would end all current and potential royalty disputes between it and J&J under a 1997 settlement and license agreement relating to three patents known as the Palmaz, Schatz and Pinchuk patents.

The patents cover coronary angioplasty stent design and balloon material, according to the company....
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