Friday, May 9, 2008

Boston Scientific wins Canadian court dismissal of J&J suit

A Canadian court has dismissed a lawsuit from Johnson & Johnson against Boston Scientific Corp. for infringing on two of Johnson & Johnson's patents related to stents, according to Boston Scientific.

Natick-based Boston Scientific (NYSE: BSX) and medical products powerhouse Johnson & Johnson are arch competitors in the multibillion-dollar market for stents, which are metal tubes used to prop open arteries after surgeries to remove blockages.

Johnson & Johnson, based in New Jersey, claimed in the now-dismissed lawsuit that Boston Scientific's NIR stent infringed on the two patents. Yet Boston Scientific said it faces a separate lawsuit from Johnson & Johnson in which its competitor claims that its Taxus and Express stents infringe on the same two patents.

Boston Scientific, a global developer, manufacturer and distributor of medical devices, reported a 2007 net loss of $495 million on revenue of $8.4 billion. The firm employed 27,500 workers worldwide as of December 2007.