Navigation Links
Jury Returns Verdict in RTI vs. BD Lawsuit
Date:9/20/2013

FRANKLIN LAKES, N.J., Sept. 20, 2013 /PRNewswire/ -- BD (Becton, Dickinson and Company) (NYSE: BDX) announced today that a jury has returned a mixed verdict in the lawsuit filed against the Company by Retractable Technologies, Inc. (RTI) in the United States Court for the Eastern District of Texas.

The verdict was unfavorable to BD with respect to RTI's Lanham Act claim and claim for attempted monopolization based on deception in the safety syringe market. The jury has awarded RTI $113,508,000 for its attempted monopolization claim (which will be trebled under the antitrust statute). The Court will determine whether to award equitable relief under the Lanham Act including disgorgement. 

The jury's verdict rejected RTI's monopolization claims in the markets for safety syringes, conventional syringes and safety IV catheters; its attempted monopolization claims in the markets for conventional syringes and safety IV catheters; and its claims for contractual restraint of trade and exclusive dealing in the markets for safety syringes, conventional syringes and safety IV catheters.

"We're disappointed with the portion of the verdict that favored RTI, and we believe this aspect of the verdict was erroneous," said Jeffrey S. Sherman, Senior Vice President and General Counsel of BD.  "We will file an appeal at the earliest opportunity."

In connection with the verdict, BD will record a pretax charge of approximately $340 million (approximately $211 million after taxes and an estimated $1.06 per diluted share) in its 2013 fiscal fourth quarter results. Excluding this charge, BD reaffirms its previously communicated guidance.

For the past two decades, BD has been a pioneer in the effort to protect healthcare workers from the risks of sharps injuries. The Company's commitment includes hundreds of millions of dollars of investment in product development and manufacturing. BD participates in intensely competitive markets to satisfy the clinical and economic needs of healthcare customers throughout the country.  BD competes by offering high-quality, innovative products at fair and reasonable prices.

About BD
BD is a leading global medical technology company that develops, manufactures and sells medical devices, instrument systems and reagents. The Company is dedicated to improving people's health throughout the world.  BD is focused on improving drug delivery, enhancing the quality and speed of diagnosing infectious diseases and cancers, and advancing research, discovery and production of new drugs and vaccines. BD's capabilities are instrumental in combating many of the world's most pressing diseases. Founded in 1897 and headquartered in Franklin Lakes, New Jersey, BD employs nearly 30,000 associates in more than 50 countries throughout the world. The Company serves healthcare institutions, life science researchers, clinical laboratories, the pharmaceutical industry and the general public. For more information, please visit www.bd.com.

Contacts:
Colleen T. White, Corporate Communications – 201-847-5369
Colleen_white@bd.com

Monique N. Dolecki, Investor Relations – 201-847-5378
Monique_dolecki@bd.com


'/>"/>
SOURCE BD (Becton, Dickinson and Company)
Copyright©2012 PR Newswire.
All rights reserved

Related medicine technology :

1. MD&M Minneapolis Conference Returns, October 28-30, With a Cutting-Edge Tailored Program Addressing the Most Critical Challenges for the Medical Devices Industry for 2013 and Beyond
2. Parent Project Muscular Dystrophy Returns to Baltimore for Annual Connect Conference; Presenters Include FDA, Major Pharma
3. MD&M Minneapolis Conference Returns to the Twin Cities this October
4. The Design of Implantable Devices Conference Returns to San Diego
5. San Diego Medical Device Developers - MEDevice Forum San Diego Returns September 19-20
6. CPhI South America 2012 Returns to Brazil with One of a Kind Pharma Event
7. United Medical Devices Wins Verdict Against Playsafe
8. Judge Nullifies Verdict in Diabetes Drug Case
9. Takeda Responds to Verdict in Diabetes Drug Case
10. DePuy Settlement News: J&J Wins Major Verdict In Illinois Trial
11. Volcano Announces Previous St. Jude Medical Products Infringe Volcano Patent and Jury Verdicts in Patent Trials with St. Jude Medical
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:4/20/2017)... Ind. , April 20, 2017  Zimmer Biomet ... in musculoskeletal healthcare, today announced that it will be ... Care Conference at the InterContinental Hotel in ... Zimmer Biomet will present at 11:20 a.m. Eastern Time. ... be accessed via Zimmer Biomet,s Investor Relations website at ...
(Date:4/20/2017)... Research and Markets has announced the addition of the ... Market and Increasing Usage of Complex Biologics during the Forecast Period" ... ... 20 Billion in 2015 to around USD 26 Billion by 2020. ... by Rapidly Expanding Injectables Market and Increasing Usage of Complex Biologics ...
(Date:4/20/2017)... , April 20, 2017  AbbVie (NYSE: ABBV), ... percent (n=145/146) of chronic hepatitis C virus (HCV) ... or 6 and compensated cirrhosis (Child-Pugh A) achieved ... 12 ) with its investigational, pan-genotypic regimen of ... were seen following 12 weeks of G/P treatment ...
Breaking Medicine Technology:
(Date:4/25/2017)... ... April 25, 2017 , ... ... announces the continuation of its strategic partnership with and platinum sponsorship of Global ... in the safe and effective management of complex spine deformity cases, particularly in ...
(Date:4/24/2017)... (PRWEB) , ... April 24, 2017 , ... Michael Vick ... and transforming the quarterback position. The former overall number one pick in the 2001 ... football career. He holds the record for the most career rushing yards by a ...
(Date:4/24/2017)... , ... April 24, 2017 , ... As part of ... today to honor the victims of the Holocaust and Nazi persecution, Center for ... Hadamar and Auschwitz on its CMATH Champions trip to Germany and Poland next week. ...
(Date:4/24/2017)... ... ... Pink , a national non-profit organization focusing on the prevention and early detection of breast ... proud to announce Katie Thiede as their new Chief Executive Officer. In January, founder Lindsay ... the Board and launched a national search to find a visionary new leader to grow ...
(Date:4/24/2017)... ... ... Veteran Theresa James awoke to the sound of her newly ex-husband breaking ... James depicts every parent’s worst nightmare, when her three children were violently taken from ... throughout my divorce,” James said. “After the death of my children, I continued to ...
Breaking Medicine News(10 mins):