Printer Friendly

CORDIS INITIATES SUIT IN ARBITRATION CASE

 CORDIS INITIATES SUIT IN ARBITRATION CASE
 MIAMI, June 10 /PRNewswire/ -- Cordis Corporation


(NASDAQ-NMS: CORD) said today that it has filed suit in the U.S. District Court in Houston to vacate or modify a recent ruling by an independent arbiter that certain of the company's balloon angioplasty catheters, including all devices for coronary application, are covered by claims in patents held by C.R. Bard, Inc.
 Cordis initiated its suit following a comprehensive review of the arbiter's findings by outside counsel. Those findings, the suit contends, are inconsistent with the testimony and documentary evidence presented at the arbitration hearing and contradict agreed stipulations between the parties. That hearing grew out of a settlement agreement announced in April 1991.
 Under the terms of that settlement, unless the arbiter's ruling is set aside, Cordis will pay a predetermined royalty on certain of its balloon catheters and will license Bard under certain of Cordis' patents. The company said that royalties payable under the agreement were not expected to have a material adverse effect on its financial condition.
 Miami-based Cordis Corporation manufactures and markets a variety of medical devices and systems for the angiographic and neuroscience markets.
 -0- 6/10/92
 /CONTACT: Chick McDowell, vice president of corporate relations and assistant secretary of Cordis Corporation, 305-824-2821/
 (CORD) CO: Cordis Corporation ST: Florida IN: HEA SU:


AW-JB -- FL001 -- 8674 06/10/92 09:07 EDT
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Jun 10, 1992
Words:230
Previous Article:USAIR REPORTS MAY TRAFFIC
Next Article:YOUTH WORK PROGRAM RECEIVES BOOST AS CONSUMERS POWER COMPANY LEASES TIPPY DAM CONFERENCE CENTER TO STATE OF MICHIGAN
Topics:


Related Articles
CORDIS ENDOVASCULAR SYSTEMS FILES PATENT INFRINGMENT LAWSUIT
TARGET THERAPEUTICS ANNOUNCES STATUS OF PATENT LITIGATION:
TARGET THERAPEUTICS PROVIDES UPDATE ON PATENT LITIGATION
Cordis Enters Strategic Agreements with Guidant Corp. For Cardiovascular Devices and Therapies.
Cordis sues Boston Scientific alleging stent patent infringement.
Medinol wins patent infringement suit against Cordis.
Johnson & Johnson awarded $425 million in patent infringement.
Cordis statement on litigation with Boston Scientific.

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters