Johnson & Johnson (NYSE:JNJ)
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Johnson & Johnson's (JNJ) Cordis unit last week appealed an earlier court decision that it must pay Boston Scientific more than $40 million over a patent dispute involving stents, according to court filings.
A jury had awarded Boston Scientific about $20 million; last month, U.S. Distict Court Judge Sue Robinson wrote that the company should get twice as much, citing "clear and convincing evidence that Cordis's conduct is sufficiently culpable to justify enhancing damages."
Boston Scientific filed a patent infringement lawsuit against Cordis with a U.S. District Court in Minnesota in 2009. The case was later transferred to Delaware.
The dispute marked one in a series of battles over stent patents between the two companies. Boston Scientific declined to comment. J&J didn't immediately respond to requests for comment.
J&J shares fell a fraction to $63.96 in after-hours trading; Boston Scientific is up a fraction to $5.52.
Bloomberg reported the ruling earlier.
-By Anjali Athavaley, Dow Jones Newswires; 212-416-4912; email@example.com