U.S. District Court Finds Arthrex Guilty of Willfully Infringing Smith & Nephew Endoscopy...
U.S. District Court Finds Arthrex Guilty of Willfully Infringing Smith &
Nephew Endoscopy Patent
Jury awards Smith & Nephew $14.7 million in damages
ANDOVER, Mass., June 11 /PRNewswire-FirstCall/ -- Smith & Nephew, Inc.,
Endoscopy Division, a subsidiary of Smith & Nephew plc (NYSE: SNN)
(London Stock Exchange: SN) announced today that a jury in the United States
District Court in Oregon decided in Smith & Nephew's favor and found
privately-held Arthrex Inc., (Naples, Fla.) guilty of willfully infringing
U.S. Patent 5,601,557.
Smith & Nephew Endoscopy and Dr. John O. Hayhurst sued Arthrex over three
years ago, claiming that Arthrex's Bio Suture Tak, PEEK Suture Tak and Push
Lock suture anchors infringed a U.S. patent owned by Dr. Hayhurst and under
exclusive license to Smith & Nephew Endoscopy. The jury awarded Smith &
Nephew $14.7 million for Arthrex's past infringement.
Smith & Nephew now plans to seek an injunction prohibiting Arthrex from
further manufacturing or selling the infringing devices in the United States.
"We are extremely pleased with the jury's decision," said Mike Frazzette,
president, Smith & Nephew Endoscopy. "As the preferred provider of innovative
arthroscopic tools and techniques to surgeons around the world, we stand
committed to protecting our intellectual property and the surgeons who work
with us to develop them."
The disputed patent covers Smith & Nephew Endoscopy's TAG(TM) WEDGE,
TAG(TM) ROD, and BIORAPTOR(TM) Suture Anchors used primarily in surgical
repair of the shoulder.
Dr. Hayhurst, who is a pioneer in the field of suture anchors, developed
his patented inventions over many years.
He has worked with Smith & Nephew and together they are responsible for
bringing these inventions and products to market to benefit patients and
surgeons around the world.
"We are aware that other competitors may continue to profit from the
innovation we and our surgeon partners have developed, and we will take all
appropriate measures to protect our IP," Frazzette said.
Contact: Joe Metzger Vice President, Corporate Communications
Smith & Nephew Endoscopy
(978) 273-5187
joe.metzger@smith-nephew.com
About Us
Smith & Nephew is a global medical technology business, specialising in
Orthopaedic Reconstruction, Orthopaedic Trauma and Clinical Therapies,
Endoscopy and Advanced Wound Management products. Smith & Nephew is a global
leader in arthroscopy and advanced wound management and is one of the leading
global orthopaedics companies.
Smith & Nephew is dedicated to helping improve people's lives. The
Company prides itself on the strength of its relationships with its surgeons
and professional healthcare customers, with whom its name is synonymous with
high standards of performance, innovation and trust. The Company operates in
32 countries around the world. Annual sales in 2007 were nearly $3.4 billion.
Forward-Looking Statements
This press release contains certain "forward-looking statements" within
the meaning of the U.S. Private Securities Litigation Reform Act of 1995. In
particular, statements regarding planned growth in our business and in our
operating margins discussed under "Outlook" are forward-looking statements as
are discussions of our product pipeline. These statements, as well as the
phrases "aim", "plan", "intend", "anticipate", "well-placed", "believe",
"estimate", "expect", "target", "consider" and similar expressions, are
generally intended to identify forward-looking statements. Such
forward-looking statements involve known and unknown risks, uncertainties and
other important factors (including, but not limited to, the outcome of
litigation and regulatory approvals) that could cause the actual results,
performance or achievements of Smith & Nephew, or industry results, to differ
materially from any future results, performance or achievements expressed or
implied by such forward-looking statements. Please refer to the documents that
Smith & Nephew has filed with the U.S. Securities and Exchange Commission
under the U.S. Securities Exchange Act of 1934, as amended, including Smith &
Nephew's most recent annual report on Form 20F, for a discussion of certain of
these factors.
All forward-looking statements in this press release are based on
information available to Smith & Nephew as of the date hereof. All written or
oral forward-looking statements attributable to Smith & Nephew or any person
acting on behalf of Smith & Nephew are expressly qualified in their entirety
by the foregoing. Smith & Nephew does not undertake any obligation to update
or revise any forward-looking statement contained herein to reflect any change
in Smith & Nephew's expectation with regard thereto or any change in events,
conditions or circumstances on which any such statement is based.
SOURCE Smith & Nephew
Joe Metzger of Smith & Nephew Endoscopy, Vice President, Corporate
Communications, +1-978-273-5187, joe.metzger@smith-nephew.com
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