Looks like you’re on the UK site. Choose another location to see content specific to your location

Home Industry News Abbott announces resolution of global patent disputes

Abbott announces resolution of global patent disputes

28th July 2009

Abbott has announced that it has resolved all outstanding intellectual property litigation between itself and Medtronic.

The company explained that under the terms of the settlement, it will receive a total of $400 million (242 million pounds) from Medtronic.

Abbott said: “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.”

The firm noted that the one-time impact of the settlement will be considered as a specified item in Abbott’s earnings for the third quarter of this year.

Additional terms of the agreement were not made public.

Earlier this month, Abbott announced its financial results for the second quarter of 2009.

The firm reported that diluted earnings per share – excluding specified items – stood at 89 cents, while global operational sales increased by 10.5 per cent, excluding an unfavourable eight per cent effect of exchange rates.

We currently have 9 jobs available in Pharmacy industry, find your perfect one now.

Stay informed

Receive the latest industry news, Tips
and straight to your inbox.