Hologic enters into settlement agreement with Ethicon Endo-Surgery

Hologic, Inc. (Hologic or the Company) (Nasdaq: HOLX), a leading developer, manufacturer and supplier of premium diagnostics, medical imaging systems and surgical products dedicated to serving the healthcare needs of women, today announced it has entered into a settlement agreement with Ethicon Endo-Surgery, Inc. (EES), a Johnson & Johnson company. The settlement agreement resolves all outstanding litigation between EES and Hologic, including two lawsuits filed by EES on October 5, 2007 and August 6, 2009 against the Company and its wholly-owned subsidiary, Suros Surgical Systems, Inc., alleging patent infringement by the ATEC and EVIVA biopsy products, as well as a lawsuit filed by Hologic on April 30, 2009 against EES, alleging patent infringement by the MAMMOTOME MR biopsy product.

As a result of the settlement agreement entered into on February 17, 2010, all outstanding litigation between the parties has been dismissed, without acknowledgement of liability by either party. While details of the agreement are confidential, under the terms of the settlement agreement, EES has agreed to pay Hologic ongoing royalties for sales of its MAMMOTOME MR. In addition, Hologic has agreed to pay EES the amount of $12.5 million, plus ongoing royalties for sales of its ATEC and EVIVA hand pieces. The Company anticipates it will record a charge of up to $12.5 million related to this settlement in its results of operations for the quarter ending March 27, 2010.

"Based upon the mutual agreement by both parties, we feel the settlement reached is in the best interest of the Company and its shareholders," said Mark Casey, Senior Vice President and General Counsel. "We are pleased to end all outstanding legal matters between Hologic and EES and to move forward under the settlement agreement."

Citations

Please use one of the following formats to cite this article in your essay, paper or report:

  • APA

    Hologic, Inc.. (2019, June 19). Hologic enters into settlement agreement with Ethicon Endo-Surgery. News-Medical. Retrieved on November 21, 2024 from https://www.news-medical.net/news/20100220/Hologic-enters-into-settlement-agreement-with-Ethicon-Endo-Surgery.aspx.

  • MLA

    Hologic, Inc.. "Hologic enters into settlement agreement with Ethicon Endo-Surgery". News-Medical. 21 November 2024. <https://www.news-medical.net/news/20100220/Hologic-enters-into-settlement-agreement-with-Ethicon-Endo-Surgery.aspx>.

  • Chicago

    Hologic, Inc.. "Hologic enters into settlement agreement with Ethicon Endo-Surgery". News-Medical. https://www.news-medical.net/news/20100220/Hologic-enters-into-settlement-agreement-with-Ethicon-Endo-Surgery.aspx. (accessed November 21, 2024).

  • Harvard

    Hologic, Inc.. 2019. Hologic enters into settlement agreement with Ethicon Endo-Surgery. News-Medical, viewed 21 November 2024, https://www.news-medical.net/news/20100220/Hologic-enters-into-settlement-agreement-with-Ethicon-Endo-Surgery.aspx.

Comments

The opinions expressed here are the views of the writer and do not necessarily reflect the views and opinions of News Medical.
Post a new comment
Post

While we only use edited and approved content for Azthena answers, it may on occasions provide incorrect responses. Please confirm any data provided with the related suppliers or authors. We do not provide medical advice, if you search for medical information you must always consult a medical professional before acting on any information provided.

Your questions, but not your email details will be shared with OpenAI and retained for 30 days in accordance with their privacy principles.

Please do not ask questions that use sensitive or confidential information.

Read the full Terms & Conditions.

You might also like...
A Discussion with Hologic’s Tim Simpson on the Future of Cervical Cancer Screening