NEW YORK, March 20 Boston Scientific Corp
(BSX.N) on Friday said it had agreed to settle all outstanding
litigation with a New Jersey doctor who had been awarded
damages of almost $432 million after suing the medical device
maker for patent infringement.
Boston Scientific said in a regulatory filing that it
expects to take a pre-tax charge to earnings of $50 million
during the first quarter in connection with the settlement with
Dr. Bruce Saffran, an interventional radiologist.
A federal jury in Marshall, Texas found in February 2008
that Boston Scientific's Taxus stents infringe a patent held by
Saffran and awarded him damages of $431.8 million. The Texas
court also awarded Saffran $69 million in interest, Boston
Scientific said in the filing.
Stents are tiny wire-mesh scaffolds inserted into arteries
to prop them open after they have been cleared of plaque.
Saffran's attorneys argued Boston Scientific incorporated
the doctor's technology into its stents, and the jury agreed.
In August 2008, Boston Scientific appealed the Texas
court's award to the U.S. Court of Appeals in Washington, D.C.,
and a hearing before the court was held early this month.
Boston Scientific said the settlement also closes the door
on a second lawsuit filed by Saffran, last month, in which he
sought damages for continued sale of Taxus stents.
(Reporting by Ransdell Pierson; editing by Carol Bishopric)