Boston Scientific Sues J&J's Atraverse Over Heart Procedure Device Patent
BSX is trading near its 52-week low of $41.44 (0.5% above the low) on light trading volume (0.3× avg).
Summary
Boston Scientific filed a new patent infringement suit against J&J subsidiary Atraverse Medical in Delaware federal court, alleging the Hotwire heart-procedure device infringes its tissue-puncturing patent. This escalates an existing lawsuit filed last year over the same device, now with J&J as the corporate parent after its acquisition of Atraverse earlier this year. Boston Scientific seeks monetary damages and an injunction blocking the device. The litigation adds legal risk for J&J's recently acquired Atraverse business and could impact competitive dynamics in the atrial fibrillation treatment market. No specific court date or damages amount was disclosed.
At the time of this announcement, BSX was trading at $41.66 on NYSE in the Life Sciences sector, with a market capitalization of approximately $60.4B. The 52-week trading range was $41.44 to $105.65. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: Reuters.