8-KOther EventsExhibits & Filings

BOSTON SCIENTIFIC CORP 8-K Report, Corporate Update (Jun 24, 2005)

Filed June 24, 2005For Securities:BSX

Summary

Boston Scientific Corporation (BSX) reported on June 24, 2005, that a Delaware jury found its TAXUS® Express™, Express™, Express™ Biliary, and Liberté™ stents to infringe on patents held by Johnson & Johnson (J&J). The jury's verdict specifically addressed liability, with monetary damages to be determined in a subsequent trial. This ruling stems from a lawsuit initiated by J&J's subsidiary, Cordis Corporation, in January 2003. While this development is significant, Boston Scientific has stated its intention to appeal the jury's decision. Investors should note that the determination of damages is still pending, which introduces ongoing uncertainty regarding the potential financial impact on the company. The full impact on revenue and profitability will depend on the outcome of the appeal and any subsequent damage awards.

Key Highlights

  • 1A jury found Boston Scientific's TAXUS® Express™, Express™, Express™ Biliary, and Liberté™ stents infringe on Johnson & Johnson patents.
  • 2The patent infringement ruling was made on June 21, 2005, in Delaware.
  • 3The jury's decision determined liability; monetary damages will be decided in a separate trial.
  • 4The lawsuit was originally filed by Johnson & Johnson's subsidiary, Cordis Corporation, in January 2003.
  • 5Boston Scientific intends to appeal the jury's verdict.
  • 6The full financial impact is currently uncertain as damages have not yet been determined.

Frequently Asked Questions

The primary event is that a jury found Boston Scientific's TAXUS® Express™, Express™, Express™ Biliary, and Liberté™ stents to infringe on patents owned by Johnson & Johnson. The jury determined liability for infringement.

The potential financial implications are currently uncertain as the jury only determined liability. A separate trial will be held to determine the amount of monetary damages. Boston Scientific also intends to appeal the decision, which could further alter any financial outcome.

The affected products are Boston Scientific's TAXUS® Express™, Express™, Express™ Biliary, and Liberté™ stents. The Liberté stent was found to infringe on two separate Johnson & Johnson patents.

Boston Scientific has announced its intention to appeal the jury's verdict.