Law360 (May 17, 2007, 12:00 AM EDT) -- Boston Scientific Corp. is in negotiations to settle approximately 1,350 product liability suits it took on when it beat out Johnson & Johnson last year for the right to acquire Guidant Corp. for around $27 billion, published reports say.
On Thursday, the Wall Street Journal reported that Boston Scientific was in talks to resolve the Guidant claims, which accuse Guidant of selling implantable defibrillators despite being aware of defects in the devices. The Journal also reported that Boston Scientific had set aside reserves of $732 million to cover possible damage awards.
Boston Scientific is dealing with 1,430 lawsuits against Guidant Corp.,...
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