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Print Edition StoriesThursday, February 5, 2009
Haemonetics handed $15M in patent ruling
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In their own words: Tod Woolf, CEO, RXi Pharmaceuticals Corp.
Braintree-based Haemonetics Corp., a provider of blood management products, has won a $15.7 million settlement for alleged patent infringement.
This week, a federal court ordered Fenwal Inc., a transfusion products provider based in Illinois, to make the payment to Haemonetics (NYSE: HAE). The judgment followed seven days of trial and two days of deliberation by the jury, stated law firm Sherin and Lodgen LLP, which represented Haemonetics. The trial was held in the U.S. District Court for Massachusetts. Fenwal’s blood collecting device was found to be in violation of Haemonetics’ patent for an automated blood collection system.
Haemonetics makes blood management-related devices and information technology platforms. It also offers consulting services. Last October, Haemonetics announced that one of its executives, Brian Concannon, would become president and CEO. He replaced Brad Nutter.
Last May, Haemonetics also announced that it had entered into a multi-year supply contract with Switzerland-based Octapharma AG. Under terms of the deal, Octapharma would be the preferred provider of plasma collection technology in the U.S. Octapharma also would use Haemonetics’ technology to separate plasma from donor blood at plasma collection facilities. The plasma offers proteins, clotting factors and intravenous immunoglobulin, which can be used in drug development.
For the year 2007, Haemonetics reported a profit of $52 million on revenue of $516.4 million.
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