Medtronic 3Q net $571M, but 3Q law expenses $266M
WSJ noted the "stent wars" aspect of things:
The new agreement follows deals Medtronic reached earlier this year to resolve stent-patent disputes with both Boston Scientific Corp. (BSX) and Johnson & Johnson (JNJ), its other two big stent rivals. The market for the tiny artery scaffolds has sparked a litigious sideshow involving patent scrapes that can run on for years and that, when they finally reach a conclusion, can prove costly.
Medtronic said it has now resolved or settled "substantially all" intellectual property litigation regarding the design and delivery of stents, including bare-metal and medicated versions.
"As a result, Medtronic will now focus more resources on efforts to improve health care for patients with vascular disease," the company said in a statement.
Medtronic still has a stent-related intellectual property dispute with drug-maker Wyeth (WYE) that concerns the medication coated on Medtronic's "Endeavor" stent. Medtronic, which pays Abbott royalties for access to that coating, is indemnified from Wyeth's infringement claim, a Medtronic spokesman said.