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Damages Awarded to Synthes in ProDisc-L Patent Case Against Medtronic |
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Corporate news announcement processed and transmitted by Hugin AS.
The issuer is solely responsible for the content of this
announcement.
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West Chester (PA), USA, December 9, 2008
Synthes, Inc. (SWX: SYST.VX) today announced that it was successful
in its court proceedings brought against Medtronic Sofamor Danek,
Inc. (Medtronic) in U.S. District Court in Memphis, Tennessee.
Synthes sought the assistance of the court to protect one of its
patents, covering the "ProDisc-L" device with its unique single-keel
design.
On December 5, 2008, the jury upheld the validity of the Synthes
patent and found that Medtronic willfully infringed the patent by the
manufacture of the entire line of Maverick total disc replacement
devices.
The jury also found that Synthes was entitled to lost profits for
approximately half of the infringing sales, plus a royalty of 18% on
the remaining sales. All commercial sales of Maverick products have
been generated outside the U.S. because the products have not been
approved for commercial sale in the U.S.
The total damages will be determined by a post-trial accounting.
"We are pleased with the jury's verdict," said Michel Orsinger,
President and CEO of Synthes. "These findings reflect the strength of
Synthes' spine patent portfolio. It also proves that intellectual
property rights can be protected and defended accordingly," he
continued.
ProDisc-L is a total disc replacement used to replace diseased
vertebral discs in the lumbar spine. Since its launch in the U.S. in
August 2006, it has shown very good clinical results.
Synthes: A leading medical device company
Synthes is a leading global medical device company. We develop,
produce and market instruments, implants and biomaterials for the
surgical fixation, correction and regeneration of the human skeleton
and its soft tissues.
For further information please contact
Gilgian Eisner, Investor Relations, Synthes, Inc.
Phone +41 32 720 4745, Fax +41 32 720 4811
Email: ir.info@synthes.com
http://www.synthes.com
Restrictions Subject to US Securities Law
Synthes, Inc. management believes certain statements in this media
release may constitute "Forward-Looking Statements" within the
meaning of the "Private Securities Litigation Reform Act of 1995".
These statements include but are not limited to those with respect to
the potential for Synthes to offer new products and market existing
ones, as well as the expected sales and sales growth of Synthes.
These statements are made on the basis of management's views and
assumptions regarding future events and business performance as of
the time the statements are made. Actual results may differ
materially from those expressed or implied. Such differences may
result from the ability of Synthes to successfully develop and
introduce new products and services and market existing products and
services in a competitive marketplace and changes in the economic
conditions that may affect the performance of the operations of
Synthes. In addition, changes in competitive conditions and
regulatory developments may affect future business performance, and
changing market conditions may affect the valuation of Synthes
securities.
In addition, it should be noted that past financial and operational
performance of the company is not necessarily indicative of future
financial and operational performance. Synthes undertakes no
obligation to update any forward-looking statements, whether as a
result of new information, future events or otherwise.
The securities of Synthes have been offered and sold outside the
United States and have not been and will not be registered under the
U.S. Securities Act of 1933, as amended ("Securities Act"). Such
securities may not be offered, sold or transferred in the U.S. or to
U.S. Persons (as defined in the regulations of the Securities Act),
except pursuant to a registration statement filed under the
Securities Act or under an applicable exemption under the Securities
Act. Hedging transactions involving such securities may not be
conducted unless in compliance with the Securities Act. The Synthes
securities are deemed "Restricted Securities" as that term is defined
in Rule 144 under the Securities Act.
--- End of Message ---
Synthes Inc.
Glutz-Blotzheim-Strasse 3 Solothurn
ISIN:
US87162M4096; Index: SBIOM, SLCI, SLIFE, SMI, SMIEXP, SPI;
Listed: Main Market in SWX Swiss Exchange; Copyright © Hugin AS 2008. All rights reserved.
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