Conceptus(R) Intends to Appeal Court Order in Hologic Patent Infringement Case
February 07 2012 - 4:05PM
Conceptus, Inc. (Nasdaq:CPTS), developer of the
Essure® procedure, the leading non-surgical permanent birth control
method, announced today that it intends to file an appeal to
overturn the court's ruling denying Conceptus' motion for permanent
injunction against Hologic Inc.'s Adiana system. In addition,
Hologic has today filed an appeal of the jury's patent validity and
infringement verdict.
Conceptus also noted that it maintains the right to file a
separate lawsuit at any time for supplemental, post-judgment
damages for Hologic's infringement on Conceptus' patent rights,
which may include lost profits in addition to the $18.8 million
already awarded by the jury, royalty payments and interest from
July 2011 through the trial of such lawsuit. Only the timing of
such lawsuit will likely be impacted by these appeals.
"We enjoyed a significant victory when the jury found that
Hologic infringed our patent and the patent is valid. We are
confident that the appeal process will find the jury's verdict was
correct, and we will continue to vigorously defend our intellectual
property," said Julie Brooks, executive vice president and general
counsel of Conceptus.
"Given the jury decision, we believe it is entirely appropriate
that the court enjoin Hologic from selling its Adiana system. In
addition, we plan to bring our case for post-judgment supplemental
damages and are evaluating the best time to do so," said Ms.
Brooks. "There's been a misunderstanding in the market that Hologic
does not owe us royalties for its continuing infringement of our
patent. On the contrary – the judge was very clear that we may
pursue additional damages at any time. We plan to take full
advantage of that right."
About the Essure® Procedure
The Essure procedure, FDA approved since 2002, is the first
permanent birth control method that can be performed in the comfort
of a physician's office in less than 10 minutes (average
hysteroscopic time) without hormones, cutting, burning or the risks
associated with general anesthesia or tubal ligation. Soft,
flexible inserts are placed in a woman's fallopian tubes through
the cervix without incisions. Over the next three months, the body
forms a natural barrier around and through the inserts to prevent
sperm from reaching the egg. Three months after the Essure
procedure, a doctor is able to perform an Essure Confirmation Test
to confirm that the inserts are properly placed and that the
fallopian tubes are fully blocked, allowing the patient to rely
upon Essure for permanent birth control.
The Essure procedure is 99.95% effective based on one year of
follow up with zero pregnancies reported in clinical trials, making
it the most effective form of permanent birth control on the
market. The procedure is covered by most insurance plans, and when
it is performed in a doctor's office the cost to the patient may be
as low as a simple co-pay. Essure has been proven and trusted by
physicians since 2002, with more than 570,000 women worldwide
having undergone the Essure procedure.
About Conceptus®, Inc.
Conceptus, Inc. is a leader in the design, development and
marketing of innovative solutions in women's healthcare. The
Company manufactures and markets the Essure procedure. The Essure
procedure is available in the United States, Europe, Australia, New
Zealand, Canada, Mexico, Central and South America and the Middle
East.
Please visit www.essure.com for more information on the Essure
procedure. Patients may call the Essure Information Center at
1-877-ESSURE-1 with questions or to find a physician in their
area.
The Conceptus, Inc. logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=7961
Forward Looking Statements
This press release contains forward-looking statements within
the meaning of Section 21E of the Securities Exchange Act of 1934,
as amended, the accuracy of which is subject to known and unknown
risks and uncertainties. These forward-looking statements include,
without limitation, discussions regarding evaluating our options on
litigation results, the court's decision in granting a permanent
injunction against the competitive product, and our success in
obtaining an award of supplemental damages in trial. These
discussions and other forward-looking statements included herein
may differ significantly from actual results. Such differences may
be based upon factors such as changes in strategic planning
decisions by management, re-allocation of internal resources,
changes in the impact of domestic and global macroeconomic
pressures, reimbursement decisions by insurance companies and
domestic and foreign governments, scientific advances by third
parties, litigation risks, attempts to repeal all or part of the
Patient Protection and Affordable Care Act of 2010, and the
introduction of competitive products, as well as those factors set
forth in the Company's most recent Annual Report on Form 10-K and
most recent Quarterly Report on Form 10-Q, and other filings with
the Securities and Exchange Commission. These forward-looking
statements speak only as to the date on which the statements were
made. The Company undertakes no obligation to update or revise
publicly any forward-looking statements, whether as a result of new
information, future events, or otherwise.
© 2012 Conceptus, Inc.—All rights reserved.
CC-3011 7FEB12F
CONTACT: Investor and Public Relations Contact:
Cindy Klimstra
(650) 962-4032
cindy_klimstra@conceptus.com
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