An independent arbitration panel has issued a preliminary ruling that interventional firm Guidant’s coronary stent system infringes on certain patents held by Johnson & Johnson subsidiary Cordis of New Brunswick, NJ. Guidant is expected to request an additional review by the panel, with a final decision due in August this year.
If the findings are upheld, Guidant will make a payment of $425 million to Cordis by January 2004. Future Guidant stent sales will not be affected by the ruling because Cordis has granted it a license to the patents, said the Indianapolis-based company.
By AuntMinnie.com staff writersJune 5, 2003
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