Hologic Announces Verdict In Patent Infringement Suit Decision Will Not Impact MyoSure Commercial Availability
BEDFORD, Mass., Sept. 5, 2012 /PRNewswire/ -- Hologic, Inc. (Hologic or the Company) (NASDAQ: HOLX), a leading developer, manufacturer and supplier of premium diagnostics, medical imaging systems and surgical products dedicated to serving the healthcare needs of women, today announced the jury returned a verdict in the patent infringement suit between Hologic and Smith & Nephew (S&N).
On June 9, 2010 and November 22, 2011, S&N filed suit in the United States District Court for the District of Massachusetts alleging infringement of U.S. Patents 7,226,459 and 8,061,359 by the use and sale of the MyoSure Tissue Removal Device (MyoSure). The two patent suits were consolidated into a single action culminating in a jury trial which commenced on August 20, 2012. On September 4, 2012, the jury in the trial returned a verdict in S&N's favor.
As a part of this verdict, the jury awarded S&N the sum of $4 million as damages for lost profits. Hologic, in connection with the acquisition of Interlace Medical, Inc. (Interlace Medical), the developer of the MyoSure product, is indemnified up to a previously defined dollar amount by the former Interlace Medical shareholders for potential associated liabilities.
"We are disappointed in and strongly disagree with the verdict in this case," said Mark Casey, Hologic's Senior Vice President, Chief Administrative Officer and General Counsel. "This is but the first step in a multi-phase process and there remain several issues to be decided by the Court which could impact the applicability of this verdict. We intend to continue to market and sell the MyoSure product and, if necessary, will pursue the appellate process to ensure the right of women to have access to this best-in-class treatment for the removal of uterine fibroids."
Forward-Looking Statement Disclaimer:
This News Release may contain forward-looking information that involves risks and uncertainties, including statements about litigation activities and the anticipated impact of those activities on the Company's results of operations. These forward-looking statements are based upon assumptions made by the Company as of the date hereof and are subject to known and unknown risks and uncertainties that could cause actual results to differ materially from those anticipated. Hologic expressly disclaims any obligation or undertaking to release publicly any updates or revisions to the data or statements presented herein to reflect any change in the Company's expectations or any change in events, conditions or circumstances on which any such data or statements are based. Certain factors that could adversely affect the Company's business and prospects are described in Hologic filings with the Securities and Exchange Commission.
About Hologic, Inc.:
Hologic, Inc. is a leading developer, manufacturer and supplier of premium diagnostic products, medical imaging systems, and surgical products. The Company operates four core business units focused on diagnostics, breast health, GYN surgical and skeletal health. With a comprehensive suite of technologies and a robust research and development program, Hologic is committed to improving lives. The Company is headquartered in Massachusetts. For more information, visit www.hologic.com.
Hologic and MyoSure, and associated logos are trademarks and/or registered trademarks of Hologic, Inc. and/or its subsidiaries in the United States and/or other countries.
SOURCE Hologic, Inc.