Medtronic Nets $10M Settlement To End Insulin Pump Fight

Law360, New York (September 27, 2013, 5:56 PM EDT) -- Insulet Corp. will pay $10 million to settle a lawsuit brought by a Medtronic Inc. unit that accused the medical device company of infringing two patents for insulin pumps, Insulet announced in a release Wednesday.

Medtronic's lawsuit said Bedford, Mass.-based Insulet's OmniPod insulin-delivery device had produced a substantial amount of revenue for the company, despite infringing two Medtronic patents for portable insulin pumps that can be worn by a patient with diabetes. In addition to the $10 million payment, Insulet will enter into a cross-license agreement...
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