AngioDynamics Settles Multi-Year Patent Dispute with Becton Dickinson & Co
By Sabela Ojea
AngioDynamics entered a settlement agreement with Becton Dickinson & Co. to resolve multi-year patent litigation with its affiliate C.R. Bard.
Under the settlement, BD will grant a license to AngioDynamics under some of its port patents and AngioDynamics will grant BD a license under certain of AngioDynamics' catheter patents.
The provider of medical devices has agreed to pay a one-time lump sum payment to BD of $7 million and six minimum annual payments of $2.5 million, with potential additional payments if 6% of annual net sales of AngioDynamics' port products exceed the minimum payment.
"We are pleased to bring this long-standing litigation to a successful conclusion that will reduce our ongoing legal spend and lift a more than ten-year distraction to the Company," Chief Executive Jim Clemmer said.
Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix
(END) Dow Jones Newswires
April 01, 2024 18:08 ET (22:08 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.-
For Bond Investors, Delayed Rate Cuts Demand a Different Playbook
-
What’s Happening In the Markets This Week
-
How the Tokyo Stock Exchange Is Pushing for Better Shareholder Returns
-
Magnificent 7 Stocks Earnings Updates: AI Remains the Focus
-
Where We See Opportunities After an Ugly Month for Stocks
-
After Earnings, Is Alphabet Stock a Buy, a Sell, or Fairly Valued?
-
When Will the Fed Start Cutting Interest Rates?
-
What’s the Difference Between the CPI and PCE Indexes?
-
Berkshire Hathaway Earnings: Strong Insurance Results Continue to Lift Revenue and Profitability
-
10 Questions for Berkshire Hathaway’s 2024 Annual Meeting
-
After Earnings, Is Ford Stock a Buy, a Sell, or Fairly Valued?
-
3 Dividend Stocks for May 2024
-
Amgen Earnings: Obesity Drug Update Is Highly Encouraging
-
What’s Going on With Apple, Tesla, and Alphabet?
-
Apple Earnings: A Weak 2024, but Optimism for 2025
-
4 Utility Stocks to Play the AI Data Center Boom