District Court Lowers Patent Dispute Award Boston Scientific Owes Medtronic To $19 Million

(financialwire.net via COMTEX) -- MDT | Quote | Chart | News | PowerRating -- September 2, 2008 (FinancialWire) -- Boston Scientific Corp. (NYSE: BSX | Quote | Chart | News | PowerRating) said that the U.S. District Court in Marshall, Texas, has reduced a patent dispute award owed to rival Medtronic Inc. (NYSE: MDT | Quote | Chart | News | PowerRating) from $250 million to $19 million.

In May, a Texas jury ruled that several Boston Scientific devices used to clear and prop open arteries infringed three Medtronic patents.

Boston Scientific stated that the court ruled that two of those patents are invalid and reduced Medtronic's award to $19 million.

Boston Scientific said it planned to appeal the $19 million decision to the U.S. Court of Appeals for the Federal Circuit. Shares of Medtronic Inc. fell 49 cents Friday to $54.72, while shares of Boston Scientific Corp. fell 18 cents to $12.

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