Retractable Technologies, Inc. Announces Litigation Updates
March 21 2017 - 3:20PM
Business Wire
Retractable Technologies, Inc. (NYSE MKT: RVP) announced today
that the U.S. Supreme Court denied its petition for a writ of
certiorari to review the December 2, 2016 Fifth Circuit Court of
Appeals decision in its case against Becton, Dickinson and Company
(“BD”). The Fifth Circuit Court of Appeals decision had remanded
the case against BD to the Eastern District of Texas for a
redetermination as to the amount of damages to which Retractable is
entitled. On March 17, 2017, the Eastern District of Texas set the
date for the one-day bench trial for May 11, 2017 in Sherman,
Texas.
Retractable manufactures and markets VanishPoint® and Patient
Safe® safety medical products and the EasyPoint® needle. The
VanishPoint® syringe, blood collection, and IV catheter products
are designed to prevent needlestick injuries and product reuse by
retracting the needle directly from the patient, effectively
reducing exposure to the contaminated needle. Patient Safe®
syringes are uniquely designed to reduce the risk of bloodstream
infections resulting from catheter hub contamination. The
EasyPoint® is a retractable needle that can be used with Luer lock
syringes, Luer slip syringes, and prefilled syringes to give
injections. The EasyPoint® needle can also be used to aspirate
fluids and collect blood. Retractable's products are distributed by
various specialty and general line distributors.
For more information on Retractable, visit its website at
www.retractable.com.
Forward-looking statements in this press release are made
pursuant to the safe harbor provision of the Private Securities
Litigation Reform Act of 1995 and reflect Retractable's current
views with respect to future events. Retractable believes that the
expectations reflected in such forward-looking statements are
accurate. However, Retractable cannot assure you that such
expectations will materialize. Actual future performance could
differ materially from such statements.
Factors that could cause or contribute to such differences
include, but are not limited to: Retractable's ability to maintain
liquidity; Retractable's maintenance of patent protection; the
impact of current and future Court decisions regarding current
litigation; Retractable's ability to maintain favorable third party
manufacturing and supplier arrangements and relationships; foreign
trade risk; Retractable's ability to quickly increase capacity in
response to an increase in demand; Retractable's ability to access
the market; Retractable's ability to maintain or lower production
costs; Retractable's ability to continue to finance research and
development as well as operations and expansion of production; the
impact of larger market players, specifically BD, in providing
devices to the safety market; and other risks and uncertainties
that are detailed from time to time in Retractable's periodic
reports filed with the U.S. Securities and Exchange Commission.
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Retractable Technologies, Inc.Douglas W. Cowan, 888-806-2626 or
972-294-1010Vice President and Chief Financial Officer
Retractable Technologies (AMEX:RVP)
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