Covidien Launches Improved Magellan Safety Hypodermic Needle.Company Also Appealed Jury Finding of Infringement MANSFIELD, Mass. -- Covidien (NYSE NYSE See: New York Stock Exchange : COV COV Composés Organiques Volatiles (French) COV Compuestos Orgánicos Volátiles (Spanish: Volatile Organic Compounds) COV Coefficient of Variation COV City of Villians (game) ; BSX BSX Bermuda Stock Exchange BSX Bandai Satellaview-X BSX Bicycle Super-X (Cross) : COV), a leading global provider of healthcare products, today announced that it is launching a new and improved Magellan[TM] Safety Hypodermic Needle hypodermic needle n. 1. A hollow needle used with a hypodermic syringe. 2. A hypodermic syringe including the needle. . The development of the new design, which gives clinicians more control and smoother activation of the safety shield, reflects Covidien's continued commitment to improving healthcare worker safety. "We are transitioning to the new and improved Magellan Safety Needle technology as part of our strong and ongoing commitment to meeting the safety needs of our customers," said Jeff Hunt, President, Patient Care and Safety Products, Covidien. "As you may know, there is litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. under way related to the current Magellan Safety Needle technology used on our Magellan family of products. We are optimistic op·ti·mist n. 1. One who usually expects a favorable outcome. 2. A believer in philosophical optimism. op that the litigation will ultimately be resolved in our favor," Hunt added. Covidien also announced that it has appealed a U.S. District Court jury finding in November 2007 that Covidien's current Magellan Safety Needle products infringed one of Becton Dickinson's patents and a subsequent judge's ruling granting Becton Dickinson's request for an injunction against Covidien's current Magellan Safety Needle product line. The injunction is scheduled to take effect on December 17, 2008. Over the next several weeks, Covidien will transition from its current line to its new and improved Safety Needle products. "While we respect the judge's recent ruling in this matter, we believe our current product line does not infringe in·fringe v. in·fringed, in·fring·ing, in·fring·es v.tr. 1. To transgress or exceed the limits of; violate: infringe a contract; infringe a patent. 2. on Becton Dickinson's intellectual property," Hunt said. "Our number one priority is to ensure that our customers receive the very best in needle safety protection. We will continue to provide the best solutions in healthcare worker protection as we seamlessly transition to the new and improved Magellan Safety Needles." Net sales Net Sales The amount a seller receives from the buyer after costs associated with the sale are deducted. Notes: This amount is calculated by subtracting the following items from gross sales: merchandise returned for credit, allowances for damaged or missing goods, freight of the Magellan product line were less than $35 million in fiscal 2008. ABOUT COVIDIEN Covidien is a leading global healthcare products company that creates innovative medical solutions for better patient outcomes and delivers value through clinical leadership and excellence. Covidien manufactures, distributes and services a diverse range of industry-leading product lines in four segments: Medical Devices, Imaging Solutions, Pharmaceutical Products and Medical Supplies. With 2008 revenue of nearly $10 billion, Covidien has more than 41,000 employees worldwide in 59 countries, and its products are sold in over 140 countries. Please visit www.covidien.com to learn more about our business. |
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