Oral Argument Calendared for Retractable Technologies, Inc.
January 28 2016 - 12:36PM
Business Wire
Retractable Technologies, Inc. (NYSE MKT: RVP) reports that oral
argument before the United States Court of Appeals for the Fifth
Circuit has been set on the Court’s calendar for Monday, February
29, 2016 in New Orleans, LA.
Becton, Dickinson and Company (“BD”) filed this appeal from the
United States District Court for the Eastern District of Texas, No.
2:08-cv-16, to ask the United States Court of Appeals for the Fifth
Circuit to reverse the judgments entered in favor of
Retractable and render judgment for BD or remand the case for a new
trial. The judgments at issue in this appeal stem from the jury
finding that BD illegally engaged in anticompetitive conduct with
the intent to acquire or maintain monopoly power in the safety
syringe market and that BD engaged in false advertising under the
Lanham Act. The judgments grant Retractable $352,000,000 in damages
and attorneys’ fees as well as injunctive relief.
RTI manufactures and markets VanishPoint® and Patient Safe®
safety medical products. 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. RTI's products are distributed by
various specialty and general line distributors.
For more information on RTI, visit our website at
www.vanishpoint.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 our current views with
respect to future events. We believe that the expectations
reflected in such forward-looking statements are accurate. However,
we cannot assure you that such expectations will materialize. Our
actual future performance could differ materially from such
statements.
Factors that could cause or contribute to such differences
include, but are not limited to: our ability to maintain liquidity;
our maintenance of patent protection; the impact of current and
future Court decisions regarding current litigation; our ability to
maintain favorable third party manufacturing and supplier
arrangements and relationships; our ability to quickly increase
capacity in response to an increase in demand; our ability to
access the market; our ability to maintain or lower production
costs; our ability to continue to finance research and development
as well as operations and expansion of production; the impact of
larger market players, specifically Becton, Dickinson and Company,
in providing devices to the safety market; and other risks and
uncertainties that are detailed from time to time in RTI's periodic
reports filed with the U.S. Securities and Exchange Commission.
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version on businesswire.com: http://www.businesswire.com/news/home/20160128006224/en/
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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