Alleged Patent Infringement by BSX - Analyst Blog
17 Mai 2013 - 1:40PM
Zacks
After a series of positive news,
medical technology major Boston Scientific
Corporation (BSX) received a patent infringement complaint
from Vascular Solutions Inc. (VASC), a provider of
medical devices for coronary and peripheral vascular procedures.
Vascular Solutions has filed the complaint in the U.S. District
Court for the District of Minnesota.
While Boston Scientific touched a 52-week high of $9.18 during
early trading hour, the stock was in the red for the rest of the
day, following the announcement from Vascular Solutions.
According to Vascular Solutions, Boston Scientific infringed three
patents owned by it. The complaint alleges, among other things,
that the production and sale of Guidezilla guide extension catheter
by Boston Scientific, which gained the 510(k) clearance from the
U.S. Food and Drug Administration (FDA) in Mar 2013, infringes the
patent landscape of Vascular Solutions’ GuideLiner catheter.
The Vascular Solutions GuideLiner catheter, launched in 2009, is
the foremost commercially available rapid exchange mother-and-child
guide extension catheter.
Vascular Solutions is pursuing an injunction against the med-tech
major to restrict the production and sale of its Guidezilla
catheter. Vascular Solutions is also seeking damages for lost
profits and legal costs.
Boston Scientific continues to face challenging economic
conditions, competitive environment, pressure on core segments and
currency headwind. Persistent softness in the core segments is also
a matter of concern. Given this backdrop, the injunction is bound
to act as another headwind.
However, Boston Scientific’s constant efforts to revive its top
line and improve profitability are encouraging. Its restructuring
initiatives and efforts to strengthen its portfolio, suitable
acquisitions in areas of unmet medical needs and focus on emerging
markets should catalyze growth going forward.
The stock carries a Zacks Rank #3 (Hold). While we remain on the
sidelines for this med tech major, other stocks such as
Conceptus Inc. (CPTS) and Natus Medical
Inc. (BABY), carrying a Zacks Rank #1 (Strong Buy) are
worth considering.
NATUS MEDICAL (BABY): Free Stock Analysis Report
BOSTON SCIENTIF (BSX): Free Stock Analysis Report
CONCEPTUS INC (CPTS): Free Stock Analysis Report
VASCULAR SOLUTN (VASC): Free Stock Analysis Report
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