Medtronic To Pay Abbott $400M To Quell Stent Suits

Law360, New York (July 27, 2009, 6:44 PM EDT) -- Medtronic Inc. has agreed to pay Abbott Laboratories $400 million to settle all pending intellectual property litigation between the two companies worldwide over four patent families related to stents and rapid-exchange balloon catheters, the medical device makers said Monday.

The companies also promised not to sue each other over current and future coronary stents and stent delivery systems for at least 10 years, though the deal has time limits and other conditions that representatives for both device makers declined to elaborate on.

Medtronic will further pay...
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