Cordis enters pact with Boston to settle selected stent litigation cases

Cordis Corporation (Cordis) has reached an agreement with Boston Scientific (Boston) resolving its Palmaz infringement suit relating to Boston's NIR stent, settling several other cardiology-related cases relating to patents in the Ding, Kastenhofer, Palmaz, and Fontirroche patent families, and exchanging paid-up licenses for certain intellectual properties. In addition, Boston will pay Cordis Corporation $716.3 million on October 1. Johnson & Johnson expects to record the majority of this payment as a special item during the fourth quarter.

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