Interventional device developers Medtronic and Abbott Laboratories have settled their global vascular patent litigation.
Under the deal, Minneapolis-based Medtronic will pay $400 million to Abbott of Abbott Park, IL. Medtronic will also make a $42 million payment to evYsio Medical Devices, as part of a Medtronic sublicense to Abbott of the evYsio stent design technology.
The agreement also stipulates that neither party will sue each other in the field of coronary stent and stent delivery systems for a period of at least 10 years, subject to certain conditions.
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