NATICK, Mass., Sept. 15 Boston ScientificCorporation (NYSE: BSX) announced today a decision by the United StatesDistrict Court in Delaware. The case involves a patent owned by Johnson &Johnson and Boston Scientific's NIR(R) stent product. In the decision, theJudge granted Johnson & Johnson's motion for entry of final judgment anddenied Boston Scientific's motion for a new trial. In 2000, a jury awardedJohnson & Johnson $324 million in damages based on Boston Scientific's sale ofthe NIR stent. The Court also awarded pre-judgment interest at prime ratebased on after-tax damages.
Today's Order indicated that the Court will enter final judgment onSeptember 30, 2008.
Boston Scientific no longer sells the NIR stent. The Company announcedthat it will appeal this decision.
Boston Scientific is a worldwide developer, manufacturer and marketer ofmedical devices whose products are used in a broad range of interventionalmedical specialties. For more information, please visit:http://www.bostonscientific.com.
Cautionary Statement Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaningof Section 21E of the Securities Exchange Act of 1934. Forward-lookingstatements may be identified by words like "anticipate," "expect," "project,""believe," "plan," "estimate," "intend" and similar words. Theseforward-looking statements are based on our beliefs, assumptions and estimatesusing information available to us at the time and are not intended to beguarantees of future events or performance. These forward-looking statementsinclude, among other things, statements regarding intellectual propertylitigation and competitive offerings. If our underlying assumptions turn outto be incorrect, or if certain risks or uncertainties materialize, actualresults could vary materially from the expectations and projections expressedor implied by our forward-looking statements. These factors, in some cases,have affected and in the future (together with other factors) could affect ourability to implement our business strategy and may cause actual results todiffer materially from those contemplated by the statements expressed in thispress release. As a result, readers are cautioned not to place undue relianceon any of our forward-looking statements.
Factors that may cause such differences include, among other things:future economic, competitive, reimbursement and regulatory conditions; newproduct introductions; demographic trends; intellectual property; litigation;financial market conditions; and, future business decisions made by us and ourcompetitors. All of these factors are difficult or impossible to predictaccurately and many of them are beyond our control. For a further list anddescription of these and other important risks and uncertainties that mayaffect our future operations, see Part I, Item 1A- Risk Factors in our mostrecent Annual Report on Form 10-K filed with the Securities and ExchangeCommission, which we may update in Part II, Item 1A - Risk Factors inQuarterly Reports on Form 10-Q we have filed or will file thereafter. Wedisclaim any intention or obligation to publicly update or revise anyforward-looking statements to reflect any change in our expectations or inevents, conditions, or circumstances on which those expectations may be based,or that may affect the likelihood that actual results will differ from thosecontained in the forward-looking statements. This cautionary statement isapplicable to all forward-looking statements contained in this document.NIR is a trademark of Medinol, Ltd. CONTACT: Paul Donovan 508-650-8541 (office) 508-667-5165 (mobile) Media Relations Boston Scientific Corporation Larry Neumann 508-650-8696 (office) Investor Relations Boston Scientific