Inamed Pays $17.2M To Settle Patent Dispute With Ethicon

Law360, New York (June 21, 2004, 12:00 AM EDT) -- Medical device maker Inamed Corp. will pay $17.2 million to settle Johnson & Johnson unit Ethicon Endo-Surgery’s patent infringement lawsuit related to an obesity treatment known as gastric banding, the company said Monday.

As part of the agreement, Inamed will pay royalties to Ethicon on future U.S. sales of the Lap-Band System, initially at 7.5%. Prior to the settlement, Inamed had been accruing a royalty on U.S. sales at 1.2%.

The 7.5% royalty will be reduced to 5.5% if Ethicon is able to obtain approval from...
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