Boston Scientific (BSX) has agreed to make an undisclosed, one-time payment to OrbusNeich to settle all stent-based litigation. This includes settling lawsuits in the United States, the Netherlands, Ireland, Germany and the UK. OrbusNeich is a vascular medical devices company with headquarters in Hong Kong and U.S. offices in Ft. Lauderdale, Fla.
In May, OrbusNeich enforced a preliminary injunction against Boston Scientific in Germany. According to a press release released upon that injunction:
The Preliminary Injunction prohibits the importation, distribution, sales and marketing of certain products by Boston Scientific or any other subsidiary of Boston Scientific in or into Germany. Included in the prohibited products are the Boston Scientific cardiac stents sold under the names of PROMUS ElementTM, PROMUS Element PlusTM, OMEGATM, TAXUS ElementTM, SYNERGYTM and Promus PREMIERTM, each in the Small Vessel, Small Workhorse and Workhorse diameter ranges. Boston Scientific would also breach the injunction if they cause other affiliated companies to sell the products in Germany. The Preliminary Injunction provides for significant economic penalties for violation of its terms and restrictions.
