J&J, Medtronic Settle Lawsuit
Johnson & Johnson (NYSE:JNJ) and Medtronic (NYSE:MDT) agreed to a confidential settlement of a lawsuit brought by Medtronic MiniMed accusing J&J’s Animas diabetes business of infringing patents, according to a regulatory filing.
MiniMed sued Animas in May 2012, alleging that the Animas OneTouch Ping glucose management system and the IR 1250, IR 2020 and IR 2000 insulin pumps infringe 9 MiniMed patents. Although MiniMed later withdrew 2 of the patents from the suit, is pressed ahead with the case on the remaining 7 patents, seeking injunctive relief and damages, according to the filing.
Last month the companies agreed to put the case to bed for unspecified terms; Judge Ronald Lew of the U.S. District Court for Central California dismissed the suit with prejudice July 31, according to court documents.
Source: MassDevice.com