Centocor Ortho Biotech Inc. Awarded $1.67 Billion Patent Jury Verdict from Abbott Laboratories
June 29 2009 - 7:54PM
PR Newswire (US)
HORSHAM, Pa., June 29 /PRNewswire/ -- Centocor Ortho Biotech Inc.
announced today that a federal jury has returned a verdict of $1.67
billion against Abbott Laboratories in a patent infringement suit.
"We are pleased that the jury has ruled in our favor in the patent
litigation case against Abbott," said Kim Taylor, President,
Centocor Ortho Biotech Inc. The patent in question relates to the
company's anti-TNF class of arthritis treatments, and is co-owned
by New York University and Centocor, for which Centocor is the
exclusive licensee. "We are particularly gratified that the jury
recognized our valuable intellectual property, finding our patent
both valid and infringed. We will continue to assert intellectual
property rights for our immunology therapies, as they offer
significant advances in treatment for patients with a number of
immune mediated inflammatory diseases," Taylor added. About
Centocor Ortho Biotech Inc. Centocor Ortho Biotech Inc. redefines
the standard of care in immunology, nephrology, and oncology. The
company was created when Ortho Biotech Inc. merged into Centocor,
Inc., and Centocor, Inc. was renamed Centocor Ortho Biotech Inc.
Built upon a pioneering history, Centocor Ortho Biotech Inc.
harnesses innovations in large-molecule and small-molecule research
to create important new therapeutic options. Beyond its innovative
medicines, Centocor Ortho Biotech is at the forefront of developing
education and public policy initiatives to ensure patients and
their families, caregivers, advocates, and healthcare professionals
have access to the latest treatment information, support services,
and quality care. For more information about Centocor Ortho
Biotech, visit http://www.centocororthobiotech.com/. Centocor Ortho
Biotech is a wholly-owned subsidiary of Johnson & Johnson. This
press release contains "forward-looking statements" as defined in
the Private Securities Litigation Reform Act of 1995. These
statements are based on current expectations of future events. If
underlying assumptions prove inaccurate or unknown risks or
uncertainties materialize, actual results could vary materially
from Centocor Ortho Biotech Inc. and/or Johnson & Johnson's
expectations and projections. Risks and uncertainties include
general industry conditions and competition; economic conditions,
such as interest rate and currency exchange rate fluctuations;
technological advances and patents attained by competitors;
challenges inherent in new product development, including obtaining
regulatory approvals; domestic and foreign health care reforms and
governmental laws and regulations; and trends toward health care
cost containment. A further list and description of these risks,
uncertainties and other factors can be found in Exhibit 99 of
Johnson & Johnson's Annual Report on Form 10-K for the fiscal
year ended December 28, 2008. Copies of this Form 10-K, as well as
subsequent filings, are available online at http://www.sec.gov/,
http://www.jnj.com/ or on request from Johnson & Johnson.
Neither Centocor Ortho Biotech Inc. nor Johnson & Johnson
undertake to update any forward-looking statements as a result of
new information or future events or developments. DATASOURCE:
Centocor Ortho Biotech Inc. CONTACT: Media, Kassy McGourty,
Centocor Ortho Biotech Inc., +1-215-325-4250, mobile,
+1-908-377-5873; or Investors, Louise Mehrotra, Johnson &
Johnson, +1-732-524-6491 Web Site:
http://www.centocororthobiotech.com/
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