AngioDynamics Lawsuit Alleges C.R. Bard is Violating Antitrust Laws, Harming Competition and Limiting Access
May 31 2017 - 6:00AM
C.R. Bard has illegally tied the sale of its tip location systems
to its line of peripherally inserted central catheters (“PICCs”),
violating federal antitrust laws, preventing competition in the
marketplace and limiting patient access to superior technology,
according to a lawsuit filed today by AngioDynamics (NASDAQ:ANGO).
AngioDynamics, a leading provider of innovative, minimally invasive
medical devices for vascular access, surgery, peripheral vascular
disease and oncology, filed the lawsuit in the U.S. District Court
for the Northern District of New York.
Tip location systems are devices that can be used
to aid healthcare professionals in the bed-side placement of a
PICC. The lawsuit claims that Bard has a dominant position in the
tip location system market and will only sell the proprietary
stylet necessary to operate its tip location systems preloaded in
its PICCs, not separately which would allow any type of PICC to be
used with the tip location systems. By doing so, customers who want
to buy Bard’s tip location systems must also buy Bard’s line of
PICCs, preventing hospitals and other medical providers from
purchasing AngioDynamics’ superior BioFlo PICCs.
“AngioDynamics introduces innovative technologies,
like the BioFlo PICC, that are designed to improve patient outcomes
and reduce costs to the healthcare system,” said Chad Campbell,
Senior Vice President and General Manager of AngioDynamics’
Vascular Access Division.
BioFlo PICCs offer a benefit to patients in the
marketplace due to its proprietary technology, Endexo, that test
results have demonstrated has 87% less thrombus accumulation on its
surface than traditional PICCs1, producing fewer complications and
facilitating higher patient care at a lower cost.
“This case involves a classic violation of the
antitrust laws. Bard has no justification for preventing purchasers
from choosing to use its market-leading tip location systems with
AngioDynamics’ innovative BioFlo PICCs,” said Philip Iovieno of
Boies Schiller Flexner, antitrust counsel for AngioDynamics.
Jim Clemmer, AngioDynamics President and CEO
stated, “We are committed to fighting Bard’s illegal scheme that
has been detrimental to patients, reduced competition and led to
increased cost in the marketplace; and violated the federal
antitrust laws.”
The lawsuit seeks to end Bard’s violation of the
antitrust laws and recover treble damages for its losses due to
Bard’s violations, as well as attorneys’ fees and other costs.
AngioDynamics is represented by Philip Iovieno and Anne Nardacci of
the law firm of Boies Schiller Flexner LLP.
About AngioDynamicsAngioDynamics
Inc. is a leading provider of innovative, minimally invasive
medical devices used by professional healthcare providers for
vascular access, surgery, peripheral vascular disease and oncology.
AngioDynamics’ diverse product lines include market-leading
ablation systems, fluid management systems, vascular access
products, angiographic products and accessories, drainage products,
thrombolytic products and venous products. More information is
available at www.AngioDynamics.com.
1 Based on
benchtop test results which may not be indicative of clinical
results. Data on file.
TrademarksAngioDynamics, the
AngioDynamics logo and BioFlo are trademarks and/or registered
trademarks of AngioDynamics Inc., an affiliate or a subsidiary.
Endexo is a trademark and/or registered trademark of Interface
Biologics, Inc. All other marks are property of their respective
owner.
Safe Harbor This release contains
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. All statements
regarding AngioDynamics' expected future financial
position, results of operations, cash flows, business strategy,
budgets, projected costs, capital expenditures, products,
competitive positions, growth opportunities, plans and objectives
of management for future operations, as well as statements that
include words such as "expects," "reaffirms," "intends,"
"anticipates," "plans," "believes," "seeks," "estimates,"
"optimistic," or variations of such words and similar expressions,
are forward-looking statements. These forward-looking statements
are not guarantees of future performance and are subject to risks
and uncertainties. Investors are cautioned that actual events or
results may differ from AngioDynamics' expectations.
Factors that may affect the actual results achieved
by AngioDynamics include, without limitation, the ability
of AngioDynamics to develop its existing and new
products, technological advances and patents attained by
competitors, infringement of AngioDynamics' technology or
assertions that AngioDynamics' technology infringes the
technology of third parties, the ability
of AngioDynamics to effectively compete against
competitors that have substantially greater resources, future
actions by the FDA or other regulatory agencies, domestic
and foreign health care reforms and government regulations, results
of pending or future clinical trials, overall economic conditions,
the results of on-going litigation, challenges with respect to
third-party distributors or joint venture partners or
collaborators, the results of sales efforts, the effects of product
recalls and product liability claims, changes in key personnel, the
ability of AngioDynamics to execute on strategic
initiatives, the effects of economic, credit and capital market
conditions, general market conditions, market acceptance, foreign
currency exchange rate fluctuations, the effects on pricing from
group purchasing organizations and competition, the ability
of AngioDynamics to integrate purchased businesses, as
well as the risk factors listed from time to time
in AngioDynamics' SEC filings, including but not
limited to its Annual Report on Form 10-K for the year
ended May 31, 2016 and its quarterly report on Form 10-Q
for the fiscal periods ended August 31, 2016, November
30, 2016 and February 28, 2017. AngioDynamics does not
assume any obligation to publicly update or revise any
forward-looking statements for any reason.
Caitlin Stefanik
+ 1 518 795 1418
cstefanik@angiodynamics.com
AngioDynamics (NASDAQ:ANGO)
Historical Stock Chart
From Mar 2024 to Apr 2024
AngioDynamics (NASDAQ:ANGO)
Historical Stock Chart
From Apr 2023 to Apr 2024