Abbott

Abbott and Medtronic Reach Agreement on Global Patent Disputes

Published in Healthcare Finance, Tax and Law Weekly, August 12th, 2009

Abbott (NYSE:ABT) announced a settlement resolving all outstanding intellectual property litigation between the two parties.

Under the terms of the settlement, Medtronic will pay Abbott $400 million. The settlement also includes a mutual agreement not to pursue additional litigation on current and future vascular products, subject to specific conditions and time limits. Additional terms of the agreement were not disclosed.

The one-time impact of this settlement will be treated as a specified item in the third quarter earnings.

Keywords: Abbott, Patents Actions, Business.

This article was prepared by Healthcare...

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Source: Healthcare Finance, Tax and Law Weekly (2009-08-12)

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