ANDOVER, Mass., Oct. 29 /PRNewswire-FirstCall/ -- A US District Court judge in Oregon yesterday ruled that it will grant Smith & Nephew (NYSE: SNN; LSE: SN) Endoscopy's request for an injunction that will prohibit privately held Arthrex Inc. of Naples, Fla., from manufacturing or selling medical devices that infringe a patent exclusively licensed to Smith & Nephew by Dr. John O. Hayhurst of Portland, Ore.
A jury determined in June that Arthrex willfully infringed this patent by marketing and selling Bio-SutureTak, PEEK SutureTak, Bio-PushLock and PEEK PushLock suture anchors (see Editors Note) used in various minimally invasive soft tissue repair surgeries, and awarded Smith & Nephew Endoscopy $14.7 million for past infringement through 2005.
The court ruled in our favor, and effective 60 days after the Court enters final judgment -- expected sometime around the end of the year -- Arthrex must stop manufacturing and selling the infringing Bio-SutureTak and PEEK SutureTak anchors.
The injunction will not affect sales of current Arthrex PushLock anchors. During the case Arthrex stopped selling the infringing first generation PushLock anchors and replaced them with modified PushLock Anchors. Smith & Nephew and Dr. Hayhurst have filed a second lawsuit against Arthrex seeking an injunction against the newer versions of PushLock anchors as well as Arthrex's Bio-Composite SutureTak anchors.
"We are pleased that the judge has granted our request for an
injunction," said Michael Frazzette, president of Smith & Nephew Endoscopy.
"Smith & Nephew remains committed to defending its intellectual property
and the hard work of the surgeons who partner with us in developing and
commercializing these innovative tools and techniques for the ultimate
benefit of the patient."
In addition to granting Smith & Nephew's injunction, the judge:
-- Granted prejudgment interest in the amount of $1.5 million
-- Ruled that the court will award additional damages for Arthrex's
infringement after 2005
-- Also ruled that the Oregon federal district court will not stay the
injunction pending Arthrex's appeal
The disputed patent covers use of Smith & Nephew's BIORAPTOR, TAG(TM)
WEDGE, and TAG ROD suture anchors, which are designed to help repair
instability in the shoulder as well as other soft tissue tears. The Arthrex
products that were found to infringe these patents are: Bio-SutureTak, PEEK
SutureTak, and Bio-PushLock and PEEK PushLock suture anchors which are used
in various soft tissue repair surgeries, including shoulder repair surgery.
Contact: Joe Metzger
Sr. Vice President, Corporate Communications
Smith & Nephew Endoscopy
Smith & Nephew is a global medical technology business, specializing in Orthopaedic Reconstruction, Orthopaedic Trauma and Clinical Therapies, Endoscopy and Advanced Wound Management products. Smith & Nephew is a global leader in arthroscopy and advanced wound management and is one of the leading global orthopaedics companies.
Smith & Nephew is dedicated to helping improve people's lives. The Company prides itself on the strength of its relationships with its surgeons and professional healthcare customers, with whom its name is synonymous with high standards of performance, innovation and trust. The Company operates in 32 countries around the world. Annual sales in 2007 were nearly $3.4 billion.
This press release contains certain "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. In particular, statements regarding planned growth in our business and in our operating margins discussed under "Outlook" are forward-looking statements as are discussions of our product pipeline. These statements, as well as the phrases "aim", "plan", "intend", "anticipate", "well-placed", "believe", "estimate", "expect", "target", "consider" and similar expressions, are generally intended to identify forward-looking statements. Such forward- looking statements involve known and unknown risks, uncertainties and other important factors (including, but not limited to, the outcome of litigation and regulatory approvals) that could cause the actual results, performance or achievements of Smith & Nephew, or industry results, to differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements. Please refer to the documents that Smith & Nephew has filed with the U.S. Securities and Exchange Commission under the U.S. Securities Exchange Act of 1934, as amended, including Smith & Nephew's most recent annual report on Form 20F, for a discussion of certain of these factors.
All forward-looking statements in this press release are based on information available to Smith & Nephew as of the date hereof. All written or oral forward-looking statements attributable to Smith & Nephew or any person acting on behalf of Smith & Nephew are expressly qualified in their entirety by the foregoing. Smith & Nephew does not undertake any obligation to update or revise any forward-looking statement contained herein to reflect any change in Smith & Nephew's expectation with regard thereto or any change in events, conditions or circumstances on which any such statement is based.
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|SOURCE Smith & Nephew Inc.|
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