8-KOther EventsExhibits & Filings

BOSTON SCIENTIFIC CORP 8-K Report, Corporate Update (May 28, 2008)

Filed May 28, 2008For Securities:BSX

Summary

Boston Scientific Corporation (BSX) announced on May 28, 2008, that a U.S. District Court jury in Texas has rendered a verdict in a patent infringement lawsuit filed by Medtronic. Medtronic had alleged that certain Boston Scientific balloon catheters and stent delivery systems infringed on four of its patents. The jury found in favor of Medtronic, determining that the patents are valid and that some BSX products infringed them, awarding Medtronic $250 million in damages. While this verdict is significant, it is not final. Boston Scientific has several defenses that the District Court will consider on July 31, 2008. The company intends to vigorously pursue post-trial motions and a potential appeal to the U.S. Court of Appeals for the Federal Circuit, expressing confidence in its position and belief that the jury's verdict is not supported by the evidence or the law. Investors should monitor the upcoming court proceedings closely.

Key Highlights

  • 1Jury verdict reached in patent infringement suit filed by Medtronic against Boston Scientific.
  • 2Medtronic alleged infringement by certain BSX balloon catheters and stent delivery systems.
  • 3Jury found Medtronic's patents valid and infringed by BSX products.
  • 4Jury awarded $250 million in damages to Medtronic.
  • 5Boston Scientific has additional defenses to be heard by the District Court on July 31, 2008.
  • 6BSX plans post-trial motions and potential appeal, expressing confidence in prevailing.
  • 7The company believes the jury verdict is unsupported by evidence and law.

Frequently Asked Questions

The $250 million jury award is not immediately final. Boston Scientific has a hearing on July 31, 2008, to present additional defenses that could overturn the verdict. If these defenses are unsuccessful, the company plans to file post-trial motions and appeal, meaning the award is subject to significant legal challenges before any payment would be due.

Boston Scientific's immediate next step is presenting its remaining defenses to the District Court on July 31, 2008. Following that, the company intends to pursue post-trial motions within the District Court and, if necessary, appeal the verdict to the U.S. Court of Appeals for the Federal Circuit. The company maintains confidence in its legal position.

The jury found that certain Boston Scientific balloon catheters and stent delivery systems infringe Medtronic's patents. The exact models or product lines were not specified in this 8-K filing, but the scope is limited to these categories of medical devices.

Boston Scientific is confident that it will prevail in subsequent legal proceedings. The company believes the jury's verdict is unsupported by the evidence and the law. Their strategy involves presenting defenses that were not considered by the jury, filing post-trial motions, and ultimately appealing to a higher court if required.