St. Jude Medical To Pay $5M To Settle Edwards Patent Suit

Law360, New York (January 16, 2005, 12:00 AM EST) -- Medical device maker St. Jude Medical will pay rival Edwards Lifesciences Corp. $5.5 million to settle a patent infringement lawsuit brought by Edwards in June 2000 over heart-valve technology.

The litigation, filed in the U.S. District Court in California and the Federal Court of Canada in Ontario, has been dismissed, the firms said.

Under terms of the settlement, Edwards will receive a one-time cash payment of $5.5 million and St. Jude will receive paid-up licenses for certain of its heart valve therapy products. Further details of...
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